EUR/USD continues lower

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

Positions Today Yesterday % Change
Longs 47% 45% 4.26%
Shorts 53% 55% -3.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

During the early hours of Thursday's trading session the common European currency continued to lose ground against the US Dollar. Meanwhile, Dukascopy analysts spotted two notable facts about the pair's charts. 

The decline, which followed the first testimony of the head of the Federal Reserve, has confirmed that it is occurring in a narrow descending channel pattern. 

Meanwhile, analysts looked for a possible level of support, which might force a reversal of the direction. As a result of the efforts, a possible support line of a long term almost horizontal pattern has been set near the 1.2170 mark. 

The zone around this line should be watched carefully.

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