EUR/USD could trade downwards

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs43%44%-1.7%
Shorts57%56%1.3%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

During Wednesday morning hours, the EUR/USD currency pair bounced off the 1.2170 level.

It is likely that some downside potential could prevail in the market due to the resistance area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2130/1.2160 range.

Note that the exchange rate could face the support level formed by the weekly S1 at 1.2089. If the given level holds, a reversal north could occur. Otherwise, the rate could reach the 1.2070 mark.

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