Dukascopy - Analytics


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    EUR/USD neared 2003 low

    © Dukascopy Bank SA
    "Dollar buying is going on, particularly against the euro, as market participants feel they don't have to be excessively dovish about the timing of a U.S. rate increase."
    - Crédit Agricole Corporate & Investment Bank (based on Market Watch)

    Pair's Outlook
    On Wednesday, EUR/USD has mostly hovered just in between two important technical levels, including monthly PP and weekly S1. However, at some points of time the pair managed to surge up to a downtrend at 1.0890. Still, the Euro lost value for a third consecutive day and continues to under-perform the Buck on Thursday as well. If bears push the cross below the 2003 low at 1.0759, they will clear the way towards the next closest support, which is located as low as 1.0589 (weekly S2). 

    Traders' Sentiment
    Bullish opened positions at the SWFX market are accounting for 46% this morning, up there percentage points during past 24 hours. 

    © Dukascopy Bank SA

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