EUR/USD slowly appreciates towards 1.3115 level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy
© Dukascopy
"The ECJ is likely to see the ESM for what it is: a necessary complement to the existing European monetary union structures, plugging a hole in the existing treaties"
- Centre for European Policy Studies (based on Bloomberg)

Pair's Outlook
EUR/USD pair, after rebounding to 1.3024 support level, slowly moves up towards 1.3115 resistance zone and forms a triangle pattern with an uptrend line since October 1st and the horizontal upper line at 1.315/35. The triangle pattern usually brakes through the upper horizontal line with a strong impulse. This idea is also supported by the daily and weekly technical indicators and RSI, which holds a value of 56 and still not indicates about an overbought situation.

Traders' Sentiment
SWFX market participants keep their bearish sentiments in EUR/USD currency pair, as 43% traders have a long position and 57% have a short position. Pending orders segment is distributed by 56.2% for a buy order and 44% for a sell.

© Dukascopy
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