Dukascopy - Analytics


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    EUR/USD grows back above 1.14

    © Dukascopy Bank SA
    "The ECB won't do this [ELA programme] unless it's abundantly clear that all else has failed."
    - Standard Bank (based on MarketWatch)

    Pair's Outlook
    Despite uncertainty over economic future of Greece inside the European monetary union, the Euro gained rather strong value against the US Dollar on Tuesday. EUR/USD gained confident bullish momentum and was pushed through the weekly PP above 1.1370. Moreover, the pair advanced even further and closed the trading day above 1.14. In the short-term, a slight correction is expected, taking into account a resistance in face of 20-day SMA at 1.1430. 

    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 pending orders in 100-pip range from the current market price returned to completely neutral distribution.

    © Dukascopy Bank SA

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