Dukascopy - Analytics

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    EUR/USD to attempt closing below monthly S1

    © Dukascopy Bank SA
    "The ECB's still stuck in quantitative easing. That's helping the euro lower and the dollar higher."
    - Saxo Bank A/S (based on Bloomberg)

    Pair's Outlook
    EUR/USD lost around 65 pips during the trading on Thursday. The Dollar managed to strengthen against the common currency for a second consecutive day, but losses of the pair were successfully limited by the monthly S1 at 1.0875. Nonetheless, a new July low was set at the 1.0855 mark. At the moment EUR/USD is required to consolidate below the mentioned monthly support in order to confirm the medium-term bearish outlook. For the next 24 hours, however, the neutral forecast seems to be more appropriate. 

    Traders' Sentiment
    Sentiment among SWFX market participants improved even further in the past 24 hours, by growing from 55% to 56%. 

    © Dukascopy Bank SA

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