Dukascopy - Analytics


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EUR/USD unchanged despite uplifted volatility

© Dukascopy Bank SA
"There's still an enormous amount to play for, but as things stand, you'd have to say that the risk of some kind of a default event at the end of June" is close to 50:50. We've seen the euro weaker across the board."
- National Australia Bank (based on Bloomberg)

Pair's Outlook
In spite of trading in the turbulent environment on Friday, the Euro was broadly unchanged against the Dollar by the end of the trading session. EUR/USD attempted to fall as low as 20-day SMA at 1.1160, but all losses were erased and the pair climbed back toward 1.1260. At the same time, on Monday the cross started trading lower around 1.12; therefore there is a risk of a steeper decline in the short-term. However, the major support at 1.11 (monthly PP; weekly S1) should withhold any moderate bearish pressure.

Traders' Sentiment
he gap between long and short positions at the SWFX market has been stable for the sixth consecutive trading day, as bulls are still holding 47% of all opened positions. 

© Dukascopy Bank SA

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