EUR/USD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
After touching a two-month low on November 11, the most traded currency pair started to appreciate. However, a formation of the channel up stared only three days later when the pair managed to surpass its 50-and 200-hour SMAs. At the moment of writing, EUR/USD traded within the 69-bar long pattern close to the daily pivot point at 1.3543. Market players are not univocal about the pair's perspectives, with almost 50% of them being bearish on EUR/USD and the same proportion being bullish. Meanwhile, technical indicators point to an appreciation in the short and medium terms but send bearish signals for the long-term.
© Dukascopy Bank SA
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