© Dukascopy Bank SA
- Bloomberg
Pair's Outlook
During the early hours of Friday's trading session all of the technical analysis of the EUR/USD currency exchange rate experienced a shock. The shock came in the form of a surge up to the 1.0653 mark. It was supposedly caused by a rush of computer generated orders. It seems that an algorithm run fund with enough funds to cause such a move changed its forecast for the pair from short to long. At that moment, as the algo recalculated the outlook of the pair it put out the buy orders, and that caused the jump.
Traders' Sentiment
SWFX traders remain long on the pair, as 56% of open positions are long. Meanwhile, 60% of trader set up orders are to sell the Euro.
© Dukascopy Bank SA