EUR/USD move into critical zone

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 41% 40% 2.44%
Shorts 59% 60% -1.69%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The common European currency depreciated against the US Dollar earlier than expected. The currency exchange rate was about to approach the resistance of the 100-hour SMA just above the 1.1820 mark when it suddenly dropped. The reason fro the sudden plummeting of the currency exchange rate was the release of the almost never financial markets impacting JOLTS Job Openings. The published data was so much higher than the initially forecasted that the US Dollar skyrocketed all across the boards. For the EUR/USD pair that resulted in the rate reaching the zone near the lower trend line of the long term ascending channel pattern near the 1.1750 mark. It still has to be seen, whether a surge reoccurs or a decline of the pair continues. Clues for that might be on the longer term charts.

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