EUR/USD unlikely to trade up

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs28%29%-3.0%
Shorts72%71%1.2%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate

On Friday, the EUR/USD currency pair declined to the 1.1210 level. During today's morning, the pair was trading at the monthly S1 located at 1.1220.

Note, that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 1.1229/1.1243 range. Thus, it is likely, that the rate could go downwards to re-test the lower boundary of the short-term ascending channel at 1.1205.

It is unlikely, that the pair could breach the given channel south due to the support level formed by the Fibonacci 23.80% retracement at 1.1200. However, if the given support does not hold, it is unlikely, that the rate could drop lower than the weekly S1 at 1.1187.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.