EUR/USD could continue to consolidate

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs32%32%-0.2%
Shorts68%68%0.1%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

On Monday, the EUR/USD currency pair tried to surpass the 55– and 100-hour SMAs. During today's morning, the pair continued to test the given resistance.

Note that the exchange rate is supported by the weekly and monthly PPs, located circa 1.1060. Thus, if the given support and resistance hold, it is likely that the Euro could continue to consolidate against the US Dollar in the short run.

Also, note that the currency pair could gain support of the 200-hour moving average, and surpass the given resistance in the nearest future. In this case the pair could target the psychological level at 1.1100.

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.