EUR/USD passes weekly PP at 1.16

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 61% 61% 0.00%
Shorts 39% 39% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The European Single Currency appreciated 0.13% since Thursday's trading session. The currency rate was piercing the weekly pivot point at the 1.16 level during Friday morning hours.  

The EUR/USD should move upwards to the upper boundary of the medium channel due to the strong support of the 55-hour and 100-hour SMAs, which most likely will support the rate during today's trading session.  

In another scenario, the European Single Currency might be stopped by the 200-hour SMA and the additional resistance of the weekly PP at the 1.1640 level and move downwards to the 1.16 level.

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