EUR/USD trades at dominant pattern line 14 14

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 44% 47% -6.82%
Shorts 56% 53% 5.36%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

During Friday's trading session, the European Single Currency passed through the monthly pivot point at the 1.1346 mark to depreciate by 56 pips or 0.49%. On Monday morning, the rate was recovering itself to trade upwards at the 1.1308 mark. 

Most likely, the European Single Currency will be trading near the bottom boundary of the dominant pattern at the 1.2600 level. The 55-hour simple moving average will try to catch up the rate to give an additional resistance for the currency pair. 

On the other side, the European Single Currency could recover itself to appreciate against the US Dollar to trade near the weekly PP at the 1.1340 mark.

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