EUR/USD 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A jump to a two-year high in the end of October was a starting point of a steep channel down pattern. On November 7, the pair dropped to a two-month low amid a slew of positive data from the U.S. as well as the EBC unexpected decision to cut rates. However, this pressure ebbed and the pair recovered some of its losses. Currently, the currency couple is vacillating close to the four-hour pivot point at 1.3358, while the perspectives of the pair appear obscure, with market players being divided on the future moves of EUR/USD. 48.79% of traders bet on appreciation of the pair, whereas 51.21% of them expect a decline in the following hours.
© Dukascopy Bank SA
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Mon, 11 Nov 2013 08:03:15 GMT

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