EUR/USD is expected to decline

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

After the recent fundamental events and releases a broader review of the EUR/USD currency pair was conducted on Thursday. Namely, all previous patterns were deleted and a fresh look was taken at the situation to capture the new fundamental information.

It was discovered that the currency pair is trading in massive scale descending pattern, in which there exists a long term ascending channel. In the medium pattern a descent is taking place in a channel down pattern. 

Meanwhile, note that recently the pair bounced into a strong resistance cluster, and it has almost no support down to the 1.1640 mark.

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