EUR/USD 1H Chart: Broadening Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most traded pair on the foreign exchange is expected to pick up in the near-term, taking into consideration current location of this currency pair. EUR/USD has already crossed the weekly S1 at 1.0876 and confirmed the yesterday high of 1.0936. The pair is now required to advance above this mark and 100-hour SMA, which is presently trading at the same level. In case of success the next goal is going to be the weekly PP around 1.10. On the contrary, technical indicators are not  optimistic on the pair's perspectives, while the 4H ones are even pointing downwards. Meanwhile, sentiment among market participants is broadly neutral, but bulls have a slight advantage of 51% vs 49% for bears.

© Dukascopy Bank SA
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