Dukascopy - Analytics


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    EUR/USD declines towards 1.13

    © Dukascopy Bank SA
    "Given the political backdrop we think it's likely that the trend of capital outflows has continued over the start of the year."
    - RBC Capital Markets (based on MarketWatch)

    Pair's Outlook
    EUR/USD cross dropped notably on Friday as the pair remained strongly volatile for a fourth day in a row. The monthly pivot point pushed the single currency down once again, as it dropped from 1.1480 down to 1.1310 during just 24 hours' period. From the technical perspective of the new week, no supports for the pair are currently placed at least down to 1.1225 (weekly S1). Therefore, we may see a decline towards this level on Monday.

    Traders' Sentiment
    A number of bullish opened positions on the SWFX market continues to hover around 45%, with as many as 47% of them registered in the morning on Monday. SWFX commands to acquire the Euro in 100-pip range from the spot rose to 47%.

    © Dukascopy Bank SA

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