Dukascopy - Analytics

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    EUR/USD is still capped by 20-day SMA

    © Dukascopy Bank SA
    "It's not about an extension of the loan program, it's about whether this program is fulfilled, yes or no."
    - Wolfgang Schauble, German Finance Minister (based on Bloomberg)

    Pair's Outlook
    On Wednesday, the EUR/USD currency pair posted no significant changes during the trading session. The single currency continued to be capped by 20-day SMA at 1.1427; however, this level seems to be weak enough in order to cause a plunge of the pair. Judging from technical indicators, EUR/USD is likely to stay mostly unchanged during Thursday, but in the weekly perspective a decline of the Euro is currently estimated as the most likely scenario. 

    Traders' Sentiment
    Bullish opened positions at the SWFX market continue to hover just below 50%, with as many as 49% of them registered in the morning on Thursday. Pending orders to acquire the Euro against the US Dollar in 100-pip range from the spot price are negative at 41%.

    © Dukascopy Bank SA

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