Dukascopy - Analytics


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    EUR/USD remains volatile above 55-day SMA

    © Dukascopy Bank SA
    "Any possibility that euro-zone membership becomes fluid is a negative for the euro, but the market is not yet so concerned with it until other larger countries look like they will be on the same path."
    - WallachBeth Capital LLC (based on Bloomberg)

    Pair's Outlook
    Yesterday EUR/USD bounced back from the long-term downtrend, the line which is also supported by the weekly pivot point at 1.1234. At the same time, losses were halted by the 55-day SMA at 1.1131, but the market remained volatile amid the Greek crisis. The main target for bears is now being relocated to the 100-day SMA, weekly S1 and the lower Bollinger band around 1.1060, while any sluggish rebound should be immediately rejected by the mentioned resistances in the 1.1230 area. 

    Traders' Sentiment
    The share of SWFX long open positions improved further in the past 24 hours, up from 47% to 48%. Meanwhile, the portion of buy orders on the Euro in 100-pip range from the spot rose to 43%.

    © Dukascopy Bank SA

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