Dukascopy - Analytics


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    EUR/USD repeats Tuesday's advance

    © Dukascopy Bank SA
    "The only agreement was that Greece should remain part of the Eurozone."
    - Berenberg (based on MarketWatch)

    Pair's Outlook
    Yesterday, EUR/USD cross strengthened by gaining the same value it lost back on Wednesday's. Therefore, during last three days pair's movements were located exactly in the range between 1.13 and 1.15. From the upside the Euro is still capped by a strong bunch of resistance lines, represented by monthly PP, 23.6% Fibo and 20-day SMA. As a result, the outlook for Friday tends to be bearish, while a breach of supply zone is unlikely in the near term. 

    Traders' Sentiment
    A number of bullish opened positions on the SWFX market continues to hover around 45%, with as many as 46% of them registered in the morning on Friday. At the same time, commands to buy the Euro in 100-pip range rose moderately to reach 46%.

    © Dukascopy Bank SA

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