Dukascopy - Analytics

    Dukascopy

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    EUR/USD trying to violate weekly PP

    © Dukascopy Bank SA
    "We will have good news and bad news so there's a lot of noise and volatility."
    - BNP Paribas (based on Bloomberg)

    Pair's Outlook
    Despite the fact that the Euro tried to climb above the closest resistance in face of 20-day SMA for a second time in three days, it still failed to do so. As a result, EUR/USD was pushed below 1.14 toward the weekly PP at 1.1366. If the pair succeeds is consolidating below this support line, it will open the way down to the next demand area represented by weekly S1 at 1.1291. Meanwhile, daily technical indicators are giving neutrals signals at the moment. 

    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 Friday. SWFX pending orders to buy the Euro in 100-pip range from the spot price are still in the minority with only 33%.

    © Dukascopy Bank SA

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