EUR/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/USD is relentlessly moving towards the parity, but is being sold off accurately within the boundaries of a bearish channel. At the moment the exchange rate is undergoing a bullish correction; however, the buying pressure is expected to subside as soon as the Euro reaches 1.06, where resistance is created by the trend-line together with the daily PP and weekly S2 levels. There the pair will be in a good position to target 1.0467, then 1.0386. Meanwhile, the SWFX traders' sentiment is almost perfectly neutral, as 49% of open positions are long and 51% are short, and the technical indicators are mixed on all three relevant time-frames.
© Dukascopy Bank SA
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