EUR/USD could go downwards

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs30%29%3.7%
Shorts70%71%-1.5%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇒⇘
[ANNOUNCE]

During Wednesday, the EUR/USD currency pair breached the short-term descending channel south. During today's morning, the pair traded at the 1.1150 level.

[/ANNOUNCE]

It is unlikely, that some upside potential could prevail in the market in the short term due to the resistance cluster formed by the 55-, 100– and 200-hour SMAs, as well the weekly and monthly PPs in the 1.1169/1.1191 range.

The European Common Currency could continue to depreciate against the US Dollar. A possible downside target is the weekly S1 located at 1.1122. Otherwise, it is likely, that the exchange rate could consolidate at the 1.1140/50 level in the short run.

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