Dukascopy - Analytics


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    EUR/USD lacks momentum for fourth day

    © Dukascopy Bank SA
    "The first step is for the Greeks to stop their unilateral declarations to increase spending without being able to afford it."
    - Bruegel (based on MarketWatch)

    Pair's Outlook
    On Wednesday, US Dollar failed to gain bullish momentum in order to send the EUR/USD cross downwards. Moreover, the pair remained completely silent for a third day in a row, while the Euro grew only 20 pips and remained below the 1.1350 mark at the end of the day. Due to important fundamental releases, the pair is expected to become more active on Thursday, while technical indicators still see the cross trading mostly sideways.

    Traders' Sentiment
    Bullish opened positions at the SWFX market continue to hover just below 50%, with as many as 47% of them registered in the morning on Thursday, unchanged from a day earlier.
    © Dukascopy Bank SA

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