Dukascopy - Analytics


    485.50 6.00/10
    83% of positive reviews

    EUR/USD reaches target at 1.1060

    © Dukascopy Bank SA
    "We've got the Fed looking to raise rates later this year and obviously the European Central Bank's only a few months into a program, which is set to run into September of next year, so that divergence is still in place and it should see the euro drift lower."
    - Commonwealth Bank of Australia (based on Bloomberg)

    Pair's Outlook
    As expected, EUR/USD's bears managed to send the pair to the near-term target around 1.1060, where 100-day SMA and weekly S1 are currently placed. At the moment the Euro is projected to rebound moderately from the mentioned support lines, but the overall sentiment is still negatively biased towards the common currency. In spite of any possible advance in the short-term, bears will aim to push the Euro in the direction of Jun 29 low at 1.0954. 

    Traders' Sentiment
    After improving for five consecutive days, the share of SWFX long open hit the 50% threshold in the past 24 hours, by gaining two percentage points on a daily basis. Buy pending orders in 100-pip range from the spot rose one percentage point to 44%.

    © Dukascopy Bank SA

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree