EUR/USD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most traded currency couple have been moving in a solid uptrend since November 7; however, despite the fact the pattern is 422 bars long, the pair has managed to appreciate only by 249 pips since then. Moreover, further appreciation is unlikely, as bears managed to break the support line and a 200-hour SMA in one hour, after stronger-than-expected data from the United States. Moreover, 54% of opened positions are short, while slight majority (52%) of pending orders in a 100 pips range is placed to sell the pair, meaning short and medium-term outlooks are short. Additionally, technical indicators on a 4H chart are sending "sell" signals.
© Dukascopy Bank SA
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