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EUR/USD climbs back above 2003 low

© Dukascopy Bank SA
"In today's interconnected world, it was probably a little naïve to believe the U.S. would be totally immune to global pressures."
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)

Pair's Outlook
EUR/USD registered its fast surge since the year 2000, as substantial bearish development of US Dollar followed the Federal Reserve's statement on Wednesday. The pair erased six technical levels and used to trade above 1.10 at some point of time. Therefore, the highest daily increase amounted to more than 400 pips. However, the Euro returned slightly back and is currently supported by 2003 low around 1.08. Despite still bearish daily technical indicators, the common currency is unlikely to plunge significantly on Thursday. 

Traders' Sentiment
Bullish opened positions at the SWFX market are accounting for 47% on Friday, no change from yesterday. 

© Dukascopy Bank SA


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