EUR/USD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After touching a low of 1.275 on July 9, the single currency has started to appreciate against the greenback. At the moment of writing the pair stood at 1.338 and it seems there are no obstacles for further appreciation. While 63% of opened positions are short, we might suggest bears will push the pair lower closer to pattern's support line. However, the fact that indicators on 4H and daily charts are neutral, the pair is expected to move sideways for some time. Nevertheless, in a longer term, the Euro is likely to continue gaining in value against the U.S. Dollar, as indicators on weekly chart are sending "buy" signals.
© Dukascopy Bank SA
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