EUR/USD consolidates near 1.1700 - Technical Analysis - Dukascopy Bank

Fri, 16 Oct 2020 09:34:22 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs44%42%4.0%
Shorts56%58%-3.1%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellBuySell
Aggregate

Since Thursday, the EUR/USD currency pair has been trying to decline below the 1.1700 level.

It is likely that the exchange rate could trade downwards in the short term, as it is pressured by the 55-hour moving average near 1.1730. In this case the pair could target the weekly S2 at 1.1664.

However, if the 1.1700 mark holds, the European Common Currency could continue to trade sideways against the US Dollar within the following trading session.


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