EUR/USD 1H Chart: Rectangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since December 5 morning the EUR/USD has been highly volatile, penetrating strong resistance at 1.3618. However, the pair pulled back and is not trading in boundaries of a rectangle and ascending triangle patterns' boundaries. Both patterns are likely to be completed soon, as the majority of aggregate technical indicators is sending "buy" signals, and a recent throwback is just another prove bulls are dominating the market. Nevertheless, market sentiment is slightly bearish, as 54% of positions are short, while traders' attitude towards Euro and Greenback is not clearly marked as well.
© Dukascopy Bank SA
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