Dukascopy - Analytics

    Dukascopy

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    EUR/USD managed to rise for second day

    © Dukascopy Bank SA
    "The stronger dollar is not going to be a decisive factor in the Fed's thinking."
    - Capitals Economics (based on Reuters)

    Pair's Outlook
    Despite strongly negative expectations, EUR/USD managed to gain value for the second consecutive day on Tuesday. The pair has even tried to violate the weekly PP resistance at 1.0621 and grow above this important level. However, the Euro still seems to be rather weak in order to register substantial gains. Most likely, the pair will remain little volatile in course of Wednesday, even though the mentioned supply is capable in sending the pair significantly downwards. 

    Traders' Sentiment
    Bullish opened positions at the SWFX market are accounting for 47% on Friday, no change from yesterday. Additionally, pending orders to buy the Euro against the US Dollar in 100-pip range from the spot dropped noticeably during past 24 hours to reach just 29%.

    © Dukascopy Bank SA

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