EUR/USD could go downwards - Technical Analysis - Dukascopy Bank

Tue, 08 Dec 2020 10:26:15 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs38%39%-3.7%
Shorts62%61%2.3%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralSellSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

On Monday, the EUR/USD currency pair failed to exceed the 1.2160 level.

It is likely that the exchange rate could be pushed down by the 55– and 100-hour moving averages near 1.2125. In this case the rate could gain support from the weekly PP at 1.2075.

If the given support level holds, a reversal north could follow and the currency pair could re-test the predetermined resistance. Otherwise, the pair could decline to the 200-hour SMA near 1.2040.


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