EUR/USD approaching 5 month high

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Germany will have to come to Europe's help and foot the bill if necessary. But that's something Mrs. Merkel won't tell you. It's not enough to simply beat other countries over the head with the cudgel of saving; we need growth too."
- German Social Democratic Party (based on Bloomberg) 

Pair's Outlook
Pair eroded the weekly R1 with ease and at the moment is approaching 5 month high at 1.342. Short term technicals on aggregate suggest that pair should not have any difficulties breaching it. However, the Stochastic in the short and medium term   send Sell signal suggesting that this level could cause pairs failure. In such case pair should trail to the 1.319 area. In case the pair's bullish stance prevails it is very likely to reach 1.35 in the nearest future.

Traders' Sentiment
Situation in the market remains exactly the same as yesterday. Bears account for 65% of market participants and 54% of pending orders are set in their favor as well.

© 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.