Dukascopy - Analytics


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    EUR/USD retreats most since Mar 19

    © Dukascopy Bank SA
    "The policy divide we are seeing between what the Fed and the ECB will do is the biggest difference ever. This has a list of investment implications, the exchange rate being the main thing."
    - Deutsche Bank (based on Bloomberg)

    Pair's Outlook
    Eventually, EUR/USD dropped below one of the strongest support levels yesterday, which is represented by 2003 low at 1.0759. As a result of that, pair's bears cleared the way towards the next demand area, and the space down to 1.0589 became free. The single currency decided to decline as low as 1.0650 on Thursday, thus posting a daily decrease of more than 100 pips. Daily technical studies are mixed, while medium and long-term ones suggest the pair will head in the direction of weekly S2 below 1.06. 

    Traders' Sentiment
    Distribution between bulls and bears at the SWFX market is the most positive in 23 trading days, as longs are currently holding 53% of all opened positions, up 7% during past 24 hours. 

    © Dukascopy Bank SA

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