Dukascopy - Analytics

    Dukascopy

    464.25 6.25/10
    83% of positive reviews
    Real

    EUR/USD grows above 1.055

    © Dukascopy Bank SA
    "The divergence in policy expectations between the Fed and the ECB has been the primary driver of downside pressure on the euro versus the dollar."
    - Rabobank (based on MarketWatch)

    Pair's Outlook
    On Monday, the Euro has partly erased losses it accumulated during Friday. It rose above 1.0550 and even tried to penetrate the weekly PP at 1.0621. However, this level used to be strong enough to reverse the weakened European currency back to the south. Among major changes, daily technical studies are now giving strong sell signals, with five out them being bearish. Therefore, pair is likely to resume losing value in the short-term, with a daily target at 1.0530. 

    Traders' Sentiment
    Bullish opened positions at the SWFX market are accounting for 47% on Friday, down two percentage points from Monday. Additionally, pending orders to buy the Euro against the US Dollar in 100-pip range from the spot have gained five percentage points to 41%.

    © Dukascopy Bank SA

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree