EUR/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 283-bar long channel up formed by the most popular currency pair originated at a two-month low of 1.3476 in the very beginning of February. EUR/USD has recently recovered a part of its previous losses, climbing to a one-month high of 1.3773, not far away from which it is trading now.
EUR/USD is not expected to change its direction in the foreseeable future as 60% of all orders are placed to buy the pair. If this is the case, the currency couple will target several resistances sitting close to each other at 1.3741/57 (daily R1, R2, R3; four-hour R1, R2, R3) that if overcome will push the recent high to the fore.
© Dukascopy Bank SA
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