EUR/USD falls back below 1.14

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 42% 41% 2.38%
Shorts 58% 59% -1.72%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Neutral Buy Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The forecast of a surge of the Euro against the US Dollar has not fulfilled itself, as the currency exchange rate traded even below the 1.14 mark on Thursday morning. The main reason for the initial decline and passing of the support levels during the second half of Wednesday's trading session was the testimony given by the chairwoman of the Federal Reserve Janet Yellen. The testimony signalled that there are more than one changes in US monetary policy upcoming, which will strengthen the US Dollar. Due to that reason the currency pair traded below the 1.14 mark. It was facing a strong support cluster, as the levels just below the 1.14 are full of various supports. These support levels are highly likely going to force the pair into a continuation of the surge.

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.