EUR/USD reveals pattern

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


The EUR/USD passed the support of the 1.1850 mark and the previous June low level. In addition a channel down pattern was spotted on Thursday morning, which has guided the rate since June 25 when the rate hit a weekly high level.

In the near term future, the rate was expected to continue to decline in the borders of the pattern. Although, it can happen in more than one way.

The pair could trade sideways until it reaches the upper trend line of the channel down pattern and the 55-hour simple moving average catches up with the rate and provides resistance. Meanwhile, note that any kind of decline would have no support besides the lower trend line of the pattern. Namely, the pair could reach the 1.1800 mark without finding support.
Back to articles

Actual Topics

Thu, 01 Jul 2021 08:03:20 GMT

GBP/USD reaches 1.3800 level

The decline of the GBP/USD has reached the 1.3800 level, which provided support for a retracement back up to the 1.3840 level. During the early hours of Thursday's trading, the pair fluctuated between the mentioned levels. In the near term future the rate could either trade sideways between the mentioned levels or make a move up or down. If the GBP/USD surges,

Thu, 01 Jul 2021 06:51:55 GMT

USD/CAD could continue to surge

The USD/CAD currency pair found support at the 50– hour simple moving average at 1.2369 on Wednesday. As a result, the US Dollar surged by 43 pips or 0.35% against the Canadian Dollar during yesterday's trading session.

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.