Dukascopy - Analytics

    Dukascopy

    464.50 6.25/10
    83% of positive reviews
    Real

    EUR/USD surges on US data on Friday

    © Dukascopy Bank SA
    "I am still on the side that the U.S. economy is better than these data look, but it is also the case that the Fed has less confidence than I do and the market is unlikely to turn around unless there is a major piece of data that surprises on the upside." 
    - Citigroup (based on Reuters)


    Pair's Outlook 
    The European currency appreciated in moment's notice against the Greenback, as US Non-Farm Employment Change data was published. Since the employment was expected by various experts to increase by around 160,000, but turned out to be a 38,000 change, the Euro surged from 1.1150 to 1.1367 at the end of day's trading session. In addition it has not rebounded on Monday and is trading around the monthly S2 at 1.1342, which indicates at possible continuation of appreciation of the currency pair. 

    Traders' Sentiment 
    Traders are bearish on the EUR/USD pair, as 54% have opened short positions. In the meantime, pending orders in the 50-pip range are 58% short and 53% short in the 100-pip range.
    © Dukascopy Bank SA

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree