EUR/USD rebounds above 1.06

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Any reading near or below 300,000 is indicative of incredibly strong labor market conditions based on the historical data."
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Pair's Outlook
On Thursday, the Euro rebounded versus the US Dollar as the pair returned above 1.06 round level. However, an increase still seems to be temporary and follows a drop that took place during Tuesday and Wednesday. This assumption was proved by EUR/USD's failure to surpass the resistance at 1.0710 (monthly S3; weekly S1). Therefore, current expectation is for a renewal of the downward tendency, with the medium-term target at 1.0420 (lower Bollinger band). 

Traders' Sentiment
Bullish opened positions at the SWFX market are accounting for 49% on Friday, no change during past 24 hours of trading. Additionally, pending orders to buy the Euro against the US Dollar in 100-pip range from the spot improved to 42% this morning.

© Dukascopy Bank SA
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