Dukascopy - Analytics


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    EUR/USD is fuelled by 100-day SMA

    © Dukascopy Bank SA
    "Until the outcome of the referendum is known next week, investors here are hesitant to take currency positions."
    - Sumitomo Mitsui Trust Bank (based on Reuters)

    Pair's Outlook
    EUR/USD was somewhat upbeat after the NFP numbers yesterday, as the currency pair seems to have started eroding a loss of 190 pips that occurred Tuesday-Wednesday. Moreover, the Euro is presently underpinned by the 100-day SMA and weekly S1 at 1.1050. The short-term outlook is neutral to positive, while the pair is able to rally towards the 55-day SMA at 1.1141. However, the medium-term expectations remain pessimistic and bears are still setting eyes on Jun 29 low at 1.0954. 

    Traders' Sentiment
    The share of SWFX long open trades decreased just marginally in the past 24 hours, therefore falling again below the 50% threshold, even though the sentiment is still more or less neutral. 

    © Dukascopy Bank SA

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