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EUR/USD fails to sustain growth above 1.10

© Dukascopy Bank SA
"This strengthened the hand of dovish members of the FOMC who remain circumspect about when inflation will return to the Fed's target, particularly in light of the renewed weakness in commodity and oil prices."
- ANZ (based on Reuters)

Pair's Outlook
EUR/USD ended the previous trading week slightly below the 1.10 mark, as it managed to recover only losses of Thursday's session. The mentioned round level seems to act as a strong barrier for bulls at the moment. It should be added that all attempts of the Euro to surge as high as 1.11 were negated by the market. The focus among long market participants is now turning to the monthly pivot point at 1.1002, which is reinforced by the 20-day SMA. However, bears are still there and they are aiming at the recent low (1.0893).  

Traders' Sentiment
Sentiment towards EUR/USD among SWFX market participants improved over the weekend, as the share of bullish open positions surpassed the 50% threshold to reach 53% on Monday.

© Dukascopy Bank SA


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