EUR/USD in a standstill

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Despite this uninspiring data, EURUSD managed a modest rally. A failure to selloff further on weak economic data is often a reliable sign of a seller's exhaustion and a short-term turn higher."
- Forex.com (based on MarketWatch)


Pair's Outlook

EUR/USD keeps moving sideways below an important supply area around 1.29 created by the three-month down-trend and monthly S2 level. Accordingly, the current bias is to the downside, where the currency pair is supposed to meet the 2013 low (1.2750). And even though the monthly technical indicators are mostly pointing upwards, the Euro is likely to breach this support and move closer to the 2012 low at 1.2050.

Traders' Sentiment

Due to complete inactivity of EUR/USD SWFX market participants had no reason to reposition. Consequently, the shares of open long and short positions are the same as yesterday—59 and 41% respectively.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.