EUR/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The current pattern with one of the highest quality and magnitude indicators was formed by one of the most traded currency pairs, namely EUR/USD. Following a period of stabilisation, the single currency started depreciating against the Greenback on April 6. Since then the cross covered more than 300 one-hour candles. At the moment it is expected that the pace of EUR/USD's decline will only strengthen. Firstly, the pair has just bounced back from the pattern's upper trend-line. Moreover, technical indicators on all time-frames are sending confident bearish signals. In addition, market sentiment changed back to negative, and now more than 50% of SWFX traders forecast the Euro to drop.
© Dukascopy Bank SA
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