EUR/USD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/USD is fluctuating around 1.335 during the last two trading days as markets are focused on the key FOMC meeting, which can determine pair's development for the next weeks. However, based on the technical analysis the short term outlook is bearish, while in a longer term, the pair is likely to appreciate. The main reasons behind such a predictions are bearish (68%) market sentiment, and technical indicators, which are sending "sell" signals on 30M and 1H chart, while on a weekly and monthly charts technical indicators are suggesting the single currency will strengthen against the greenback.
© Dukascopy Bank SA
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Wed, 18 Sep 2013 13:09:48 GMT

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