Dukascopy - Analytics


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    EUR/USD is range bound slightly below 1.12

    © Dukascopy Bank SA
    "The progress achieved over the past three years to stabilize and strengthen the euro area is real."
    - Mario Draghi, ECB President (based on Bloomberg)

    Pair's Outlook
    EUR/USD failed to push itself below the 200-day SMA on Thursday, even though bears had attempted to dominate the market. It seems that the price is largely undecided with respect to the future development. Being located near the apex of the triangle pattern, the rate is also capped by strong resistance and support zones from above and below, respectively. Thus, our outlook will remain neutral, as long as EUR/USD is located below 1.1260 or above the 1.1140 mark.

    Traders' Sentiment
    The share of bulls fell from 51% to 49% by Friday morning. Alongside, the number of long pending orders in 100-pip range from the spot bounced back from the neutral level of 50%, to reach the 38% mark today.

    © Dukascopy Bank SA

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