Dukascopy - Analytics

Dukascopy

463.75 6.50/10
83% of positive reviews
Real

EUR/USD fluctuates in the region of 1.09

© Dukascopy Bank SA
"Overall, I think people want to keep their long dollar positions ahead of the payrolls report, expecting higher numbers."
- Global-info Co (based on CNBC)

Pair's Outlook
EUR/USD successfully tested the Jul 22 low at 1.0870 and crossed the weekly S1 six pips from below on Wednesday. However, the pair was forced to return, as bulls used the momentum provided by mixed US fundamentals. At the moment EUR/USD is trading without any clear short-term bias around the 1.09 mark, while daily and weekly indicators are not supporting either bullish or bearish scenario. Therefore, the daily outlook assumes a sideways development, but losses are more likely in the mid-term.  

Traders' Sentiment
The share of bullish open positions decreased from 54% to 51%. Long pending orders in 100-pip range from the spot were also down from 53% to 40%.

© Dukascopy Bank SA


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