Dukascopy - Analytics


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    EUR/USD is unchanged below 2003 low

    © Dukascopy Bank SA
    "It's mainly the fear around the Greek debt crisis that's driving the euro lower. Speculation and rumors around this issue will put pressure on the euro."
    - Helaba Landesbank Hessen-Thueringen (based on Bloomberg)

    Pair's Outlook
    Despite movements in the range between 1.0660 and 1.0770 on Tuesday, EUR/USD posted completely no daily changes in its price. Both opening and closing levels remained just below the 2003 low at 1.0737. The overall short-term outlook for this currency pair remains bearish, as long as the Euro is below monthly PP at 1.0811. For bearish intentions to be confirmed, the pair should erase the 1.0650 mark, enough to refocus on a continuous down-trend in the medium-term with a target at 2015 low (1.0461). 

    Traders' Sentiment
    The total number of bullish opened positions at the SWFX market returned back into the red zone and stays at 49% in the morning on Wednesday, down two percentage points during past 24 hours. 

    © Dukascopy Bank SA

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