EUR/USD trades near 1.1864 amid strong resistance

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

Positions Today Yesterday % Change
Longs 42% 42% 0.00%
Shorts 58% 58% 0.00%
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) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

As it was forecasted yesterday, the resumption of surge towards the 1.1910 level was halted in resistance zone that contained both the weekly PP with the 55-hour SMA as well as the 61.8% Fibonacci retracement level and the 100-hour SMA.  

Nevertheless, the general scenario remains the same. In medium perspective the pair is projected to reach the upper boundary of a senior descending channel near the 1.1940 mark. 

However, during this trading session the above technical indicators are likely to push the rate back to combined support formed by the 200-hour SMA and the bottom edge of a junior ascending channel. 

But this scenario might be altered due to release of estimate on Euro Zone's inflation. Even though the event itself does not arouse much volatility but it might create a momentum for easier breakthrough to the top.

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