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    EUR/USD to test July low for second time

    © Dukascopy Bank SA
    "The economy has enough strength to survive higher interest rates."
    - John Williams, San Francisco Fed President (based on Reuters)

    Pair's Outlook
    Dollar-bullish remarks from Janet Yellen sent EUR/USD noticeably to the downside on Wednesday. The pair has successfully overcome the nearest support at 1.0973 (weekly S1), but was capped by this month's low at 1.0916. Still, daily technical indicators are confirming their bearish intentions. Therefore, the Euro may set a new July low in the near term, while the main focus is on the monthly S1 at 1.0875 at the moment. 

    Traders' Sentiment
    Sentiment among SWFX market participants improved even further in the past 24 hours, by growing from 54% to 55%. Meanwhile, the portion of pending orders to buy the Euro against the US Dollar in 100-pip range from the spot price decreased from 40% to 38%.  

    © Dukascopy Bank SA

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