EUR/USD fails to pass through 61.8% Fibo

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

Positions Today Yesterday % Change
Longs 44% 45% -2.27%
Shorts 56% 55% 1.79%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The common European currency continued to rise against the Dollar in a tiny ascending channel. Despite release of improved housing data the pair managed to break through the upper boundary of a one-month long descending channel and end the day at the 61.8% Fibonacci retracement level located at 1.1887.  

The rising moving averages that are lying along the lower edge of the pattern are expected to support the further surge. However, there is a need to take into account that supposed resistance zone located around the 1.1910 mark might lead to a fully-fledged rebound. 

If this scenario materializes it might be a sign confirming an existence of another larger ascending channel. In this regard it should be noticed that 51% of pending orders in 100-pip range are set to sell.

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