Dukascopy - Analytics


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EUR/USD unchanged for third consecutive day

© Dukascopy Bank SA
"We're not going to get any more rate cuts from ECB and i don't think we're going to see anymore QE."
- Credit Agricole (based on MarketWatch)

Pair's Outlook
It seems that currently the EUR/USD cross lacks impetus in order to develop in either direction. Despite support that is at the moment being provided by the weekly pivot point at 1.1268, the Euro rose on Monday just 30 pips to reach 1.1340 mark, but in the morning of Tuesday it resumed a slight decline down to 1.1328. Taking into account bearish technical studies on a daily chart, it is likely that today the pair will attempt to go below the mentioned demand. 

Traders' Sentiment
Distribution between long and short opened positions changed for the first time in six days, while a share of longs dropped to 47%. At the same time, SWFX commands to acquire the Euro in 100-pip range rebounded slightly to reach 34% on Tuesday. 

© Dukascopy Bank SA

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