EUR/USD to face renewed bearish burden

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Markets have moved a lot recently and whilst activity data has improved and interest rate expectations have risen, more news is now needed to help shape the markets' expectations over a possible June/July Fed rate hike."
- ANZ (based on Reuters)

Pair's Outlook

In spite of growing back above the 100-day SMA on Thursday, the EUR/USD pair will likely fail again on the last trading day of this week. By advancing towards the 1.12 marker, the bulls have pushed the exchange rate close to a steep downtrend resistance where a sell-off should commence, according to the majority of daily technical indicators. The bears should attempt to retake the moving average, currently located at 1.1169. However, in case the longs succeed in rising at least beyond 1.1220, then the base case would assume a spike towards the weekly pivot at 1.1250. 

Traders' Sentiment

The SWFX market sentiment is 51% bullish for the first time in 12 weeks, while pending orders are predominantly remaining bearish on the Euro.

© Dukascopy Bank SA
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Actual Topics

Fri, 27 May 2016 07:18:04 GMT

GBP/USD still risks breaking the down-trend

The Cable underwent the expected correction on Thursday, as supply, represented by the 22-month down-trend and the Bollinger band, was sufficient to prevent the Sterling from appreciating.

Thu, 26 May 2016 14:13:04 GMT

NZD/USD in tight range between 100-day SMA and weekly PP

Once again the 100-day SMA managed to prevent the New Zealand Dollar from declining, as it has during the previous two weeks.

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