EUR/USD could breach short-term channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs28%28%0.5%
Shorts72%72%-0.2%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate

On Friday, the EUR/USD currency pair tried to breach the short-term channel north and reversed south from the upper channel line at 1.1324. On Monday's morning, the pair resumed going up.  

It is likely, that the exchange rate re-tests the upper trend boundary in the nearest future. If the given channel does not hold, rate might reach the weekly R1 at 1.1350.  

Otherwise, it is expected, that the rate trades sideways between the psychological levels at 1.1300 and 1.3200 respectively. 

It is unlikely, that the pair could decline lower than 1.12800 due to the support level formed by the 55– and 100-hour SMAs, as well the weekly and monthly PPs.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
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.