EUR/USD reveals channel pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


By the middle of the day's European trading hours, the currency exchange rate had reached the resistance of the 200-hour simple moving average and the weekly simple pivot point at 1.1975.

In the meantime, analysts spotted a channel up pattern, which had guided the rate throughout this week. In the near term future, the rate would test the combined resistance of the two technical indicators and the upper trend line of the channel up pattern.

If the resistance levels hold, the currency exchange rate could decline down to the support of the 1.1915 mark and the lower trend line of the channel pattern. Note that the 55 and 100-hour simple moving averages could strengthen the support of this level.

On the other hand, in the case of the resistance failing, the pair could reach for the weekly R1 simple pivot point at the 1.2058 level.
Back to articles

Actual Topics

Thu, 11 Mar 2021 09:39:33 GMT

NZD/USD pressured by 50– hour SMA

The New Zealand Dollar has edged higher by 100 pips or 1.40% against the US Dollar since yesterday's trading session.

Thu, 11 Mar 2021 09:03:32 GMT

USD/CAD decline likely to continue

The US Dollar has declined by 93 pips or 0.73% against the Canadian Dollar since yesterday's trading session. The currency pair was pressured lower by the 50, 100– and 200-hour SMA on Thursday.

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.