Dukascopy - Analytics

    Dukascopy

    468.75 6.25/10
    83% of positive reviews
    Real

    EUR/USD enclosed between 1.1050 and 1.0950

    © Dukascopy Bank SA
    "The EU referendum is skewing the euro picture toward caution and prudence."
    - Roberto Mialich, UniCredit SpA (based on Bloomberg) 


    Pair's Outlook 
    The pair stalled after it had broken through the 200-day moving average. From above the fluctuations are now limited by 1.1050, while any attempts of the bears to push the price lower are to be prevented by a dense demand area at 1.0970/50, which consists of the up-trend, monthly R1, and 100-day SMA. Eventually, however, the bulls should gather enough strength to throw the rate above 1.1050, which will pave the way for a multi-week recovery towards the October high. 

    Traders' Sentiment 
    There have been no changes in the SWFX sentiment since yesterday: 52% of positions are long and 48% are short. The share of sell orders increased from 52 to 54%.
    © Dukascopy Bank SA

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