EUR/USD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
On the back of strong fundamental data from Europe and amid government shutdown in the United States, EUR/USD has approached the highest level since February. At the moment of writing the pair was changing hands at 1.3618, just 5 pips below the pattern's resistance line. In case the level will be breached, the next stop for bulls will be 1.3655– weekly resistance. However, short term outlook is bearish, as 61% of opened positions are short, hence the pair may fluctuate around current level for some time. However, in a longer period of time, the single currency is likely to continue appreciating against the greenback.
© Dukascopy Bank SA
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