EUR/USD tests 1.1200 level

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs33%30%6.8%
Shorts67%70%-3.3%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuySellBuy
Aggregate

On Friday, the EUR/USD currency pair skyrocketed to the resistance level formed by the Fibo 38.30% at 1.1200. During today's morning, the pair was testing the given resistance.

If the given level holds, it is likely that a reversal south could occur in the nearest future. In this case it is unlikely that the exchange rate could gain support of the weekly PP, as well the 55-hour SMA at 1.1145.

On the other hand, the Euro could consolidate against the US Dollar, as the rate could continue to test the given resistance in the short run. If the given level does not hold, the pair could target the psychological level at 1.1240.

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.