SPY.US/USD 4H Chart: Breaches channel pattern - Trade Pattern Ideas - Dukascopy Bank

Tue, 13 Aug 2019 05:57:11 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate

The S&P 500 has been depreciating against the US Dollar since August 1 when the pair reversed south from a resistance level formed by the weekly R1 at 301.69.

As apparent on the chart, the pair has already breached the bottom border of an ascending channel pattern at 290.12. From a theoretical point of view, it is expected, that some downside potential could continue during the following trading sessions. In this situation, the pair could aim for a psychological support level at 280.00.

On the other hand, the SPY.US/USD pair might reverse from the current price level at 288.09 and target a resistance level formed by the 55– period simple moving average at 296.52 within this week's trading sessions.


Back to feed
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.