EUR/USD reveals triangle pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 41% 41% 0.00%
Shorts 59% 59% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

As it was expected, the EUR/USD currency pair has continued to trade near the 1.14 mark. However, recent fluctuations have revealed additional information, which is enforcing the previous forecasts. In general, the hypothesis of a decline of the Euro against the US Dollar is being strengthened by the fact that a new pattern was spotted. The new pattern is a short term descending triangle. The triangle shows that the currency exchange rate is building up downwards pressure, as the support levels from 1.1390 to 1.1380 are holding ground. Most likely the currency pair will fall by the end of the day and reach for the combined support of the weekly S1 and the monthly pivot point at the 1.1331 level.

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