EUR/USD tries to bypass 1.20 level

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 42% 42% 0.00%
Shorts 58% 58% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

In line with expectations, a resistance created by the 55- and 100-hour SMAs prevented the further advance of the Euro against the Greenback. At the moment, this barrier is also strengthened by the weekly PP. 

For this reason, the pair is expected to fail to break to the top. However, a sharp decline should not happen as well, as the southern side remains reliably protected by the 200-hour SMA, which is moving along the lower support line of a long-term ascending channel. In other words, the rate is expected to stay for some time in this ascending triangle. 

On the other hand, an effect from release of data on the US PMI at 12:30 GMT might give a necessary impulse to bypass the above resistance a stay for some above the 1.9999 mark.

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