Dukascopy - Analytics

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    EUR/USD penetrates weekly PP

    © Dukascopy Bank SA
    "The next step has to come from the Greek authorities. They have to make up their minds whether they will ask for an extension."
    - Jeroen Dijsselbloem, Dutch Finance Minister (based on Bloomberg)

    Pair's Outlook
    On Monday, the EUR/USD currency pair declined in its value as the single currency was sent downwards by a major level at 1.14. As a result, the cross violated the closest support level represented by the weekly pivot point at 1.1366 and even went slightly below this line. According to technical studies, the pair may stabilise around 1.1350 during next 24 hours, while a decline toward weekly S1 at 1.1291 is assumed to take place in the medium-term. 

    Traders' Sentiment
    Bullish opened positions at SWFX continue to hover just below 50%, with as many as 48% of them registered in the morning on Tuesday. On the other hand, SWFX commands to acquire the Euro in 100-pip range from the spot changed back to negative to have just 36%.

    © Dukascopy Bank SA

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