Market News and Research

Market News and Research

EUR/USD stuck at 1.1878
Fri, 04 Aug 2017 05:58:34 GMT
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 40% 40% 0.00%
Shorts 60% 60% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy

Second half of the previous trading session the currency exchange rate spent in an expected advance towards the closest resistance level formed by the weekly R2 at 1.1878. An especially high impulse was provided shortly after release of information on the US Non-Manufacturing PMI that did not justify experts' expectations. For the moment, it is not clear yet, whether the pair will continue the surge or fall out from the wedge. On the one hand, a four-hourly chart shows that the rate has been soaring precisely along the pattern's southern boundary. In addition, a number of technical indicators reveal that the pair has not become overbought yet. On the other hand, narrowing fluctuations of the rate more and more remind formation on an inner ascending triangle with the upper trend-line located near the 1.1883 level.

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