Dukascopy - Analytics

    Dukascopy

    472.75 6.25/10
    83% of positive reviews
    Real

    EUR/USD dropped notably below 1.1350

    © Dukascopy Bank SA
    "The Greek government has been very serious, working very hard the last couple of days. We need it to be strong enough to work on the next couple of months. I am always optimistic."
    - Jeroen Dijsselbloem, Eurogroup President (based on Bloomberg)

    Pair's Outlook
    Despite being initially supported by the weekly PP at 1.1368, the EUR/USD pair pierced through this important support and plunged considerably on Monday. The pair lost around 50 pips on a daily basis and closed just below the 1.1340 mark. Meanwhile, the 20-day SMA is currently approaching weekly PP; therefore, a comeback of the Euro is unlikely in the nearest future, while chances of a further drop at least down to 1.1287 (weekly S1) increased significantly. 

    Traders' Sentiment
    Bullish opened positions continue to hover just below 50%, with as many as 49% of them registered at 7:00 GMT on Tuesday. SWFX pending orders to buy the Euro against the US Dollar in 100-pip range from the spot are in the minority with just 35% of all. 

    © Dukascopy Bank SA

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