© Dukascopy Bank SA
Dukascopy Community members, however, are now so optimistic about the EUR/USD pair, as the consensus forecast stands for 1.3792, hence, they do not believe a calm week will be able to hold the pair above the important psychological level of 1.38. Moreover, this level is 30 pips lower than the last week's average price, while more than 66% of respondents are having a bearish view on the pair. Regarding the market sentiment, it has not been changing dramatically since the beginning of this year, with around 60-66% of opened positions placed to sell the Euro versus the greenback.
From the part of the fundamental data, the only reports that can have a significant impact on the most traded currency pair are the existing home sales, durable goods orders and unemployment claims from the U.S., while the single currency will be driven by manufacturing data as well as German Ifo Business Climate. "We might see the Euro go down. So, my vote is bearish. I expect the data of U.S to be better than expected," said Aslamhammad.
© Dukascopy Bank SA