EUR/USD's rally defeated by weekly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Ahead of tomorrow's weekly jobless claims, it's not a surprise to see investors squaring up a bit ahead of that data. They're trimming some of their short-dollar positions."
- Commonwealth Foreign Exchange (based on Bloomberg)

Pair's Outlook

Yesterday EUR/USD did make an attempt to breach the resistance at 1.3581, which would allow the currency pair to challenge the 100-day SMA and the rising trend-line, but it failed. As a result, the price retreated back to the monthly S1 that is expected to give in to the selling pressure in the nearest future and thereby open a path towards the 200-day SMA at 1.3427.

Traders' Sentiment

SWFX market participants do not change their view on EUR/USD. Most of them at the moment are holding short positions, specifically 57%. If the price steps higher, this percentage is likely to increase even more, as 79% of orders 100 pips from the spot are to sell the Euro against the buck.
© Dukascopy Bank SA
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Actual Topics

Thu, 23 Jan 2014 07:40:58 GMT

GBP/USD soars to Jan 2 high

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