EUR/USD retraces from breached channel

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

Positions Today Yesterday % Change
Longs 39% 38% 2.56%
Shorts 61% 62% -1.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

EUR/USD was trading slightly above the 1.2240 mark early on Friday, being restricted by the 38.20% Fibo retracement.  

This sentiment changed in favour of bulls mid-session in response to rather disappointing US employment data. Upside risks likewise prevailed during the following hours, thus sending the pair towards the upper boundary of a short-term channel and the weekly PP circa 1.2280. As a result of this upside movement, the Euro has likewise formed a retracement from the previously-breached senior channel. 

Technical indicators are more bearish for today, thus suggesting that the combined support of the 55– and 100-hour SMAs near 1.2275 is more likely to be surpassed than the 200-hour SMA at 1.23. The latter is also reinforced by the monthly PP at 1.2320.

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