EUR/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single European currency started to lose value relative to the U.S. Dollar after reaching more than a two-year high of 1.3968 in mid-March. Since then, EUR/USD has been trading in the down-trend that has been developing within the boundaries of the 209-bar long bearish tunnel.
Now the pair is sitting close to a one-month low of 1.3698 but may try to bounce off this mark given that almost two thirds of market participants are bullish on the pair, according to the SWFX data. At the same time, technical data warns that in the medium and long terms we may observe depreciation of the pair.
© Dukascopy Bank SA
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