EUR/USD tests monthly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs26%29%-10.8%
Shorts74%71%3.8%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellSellBuy
Aggregate

Yesterday, the EUR/USD currency pair tried to surpass the resistance level formed by the 55-hour SMA. During Tuesday's morning, the pair dropped to support level—the monthly PP at 1.1181.  

If the given support level holds, it is expected, that a reversal north could occur in the nearest future. Note, that the exchange rate has to surpass the Fibonacci 38.20% retracement at 1.1200. Also, it is unlikely, that the Euro could exceed the 1.1230 mark due to the given moving average. 

If the given support does not hold, it is likely, that the rate could continue to sharp losses. In this case, the pair could decline to the support level formed by the weekly S1 at the 1.1162 mark.

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.