EUR/USD ventures north

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is little doubt that at some point Spain is going to have to ask for aid. They are just trying to get as much of their own house in order so that they can negotiate the best condition for themselves"
- Bank of New Zealand (based on Bloomberg)

Pair's Outlook

While resistance at 1.2933/53 is slowly being eroded, we may expect extension of the currency rally. In the medium term EUR/USD preserves potential to go as high as 1.3371, where it is going to confront a significant downtrend resistance line. Prior to that, however, the pair will have to overcome 1.3019 and 1.3119. In the meantime, dips are to be contained by 1.2866 and 1.2796/65.

Traders' Sentiment
SWFX traders' sentiment remains bearish towards EUR/USD, being that long positions are in majority—58%, while short ones constitute 42% of the market. The situation with orders is different, as 56% of them are to buy the Euro and 44% are to sell it against the U.S. Dollar.

© 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.