Dukascopy - Analytics

    Dukascopy

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    EUR/USD in limbo around 1.1250

    © Dukascopy Bank SA
    "If we're dealing with a global demand shock emanating from China, the euro zone, and Germany in particular, could be quite badly exposed."
    - Credit Agricole (based on Bloomberg)

    Pair's Outlook
    The outlook for the EUR/USD currency pair remains unclear for the time being as neither bulls nor bears are still able to overtake leadership of the market. Yesterday the cross remained capped by the 50% Fibonacci retracement of the Jan-Mar 2015 downtrend at 1.1280. On the other hand, demand is being created by monthly and weekly pivot points at 1.1241/20, as well as the 20-day SMA between them. While daily technical studies are giving mixed signals, we are also going to take a neutral approach with respect to EUR/USD's nearest future.

    Traders' Sentiment
    The share of bulls was unchanged at 49% in the past 24 hours, while long pending orders in 100-pip range from the spot price improved  further from 52% to 54%.

    © Dukascopy Bank SA

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