Dukascopy - Analytics


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    EUR/USD in limbo between weekly PP and S1

    © Dukascopy Bank SA
    "The likelihood of a short-term Grexit has declined. That's made the world a safer place to sell euros again."
    - Citigroup Inc. (based on Bloomberg)

    Pair's Outlook
    EUR/USD showed another relatively volatile trading session, considering that both opening and closing levels of the day were located close to each other. The pair attempted to climb as high as weekly PP at 1.1090, but all gains were eventually erased. At the moment it hovers below the 100-day SMA at 1.1015, which is capable of sending the Euro substantially downwards. The initial support is the yesterday's low at 1.0964, followed by the Jul 7 low at 1.0916. 

    Traders' Sentiment
    Sentiment among SWFX market participants has finally left the vicinity of the 50% mark, and yesterday the share of bullish open positions rose from 51% to 54%. 

    © Dukascopy Bank SA

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