EUR/USD comes under 55-day SMA to expose 1.09

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The path of the euro-dollar may be the most visible influence on gold, at least until the Fed meeting."
- HSBC (based on Bloomberg)

Pair's Outlook

EUR/USD traded down on Thursday, after the 200-day SMA managed to create a formidable resistance for bullish traders at 1.1031. Yesterday's session resulted in a decline below 55-day SMA, currently at 1.0972. Now we are having a closer look at the 1.09 mark, which is guarded by monthly R1 and 38.2% Fibonacci retracement of an Oct-Nov downtrend. Positive US data later on Friday should result in the testing of this demand. On the other hand, US disappointment rules nothing out, including a spike at least above the 55-day SMA.  

Traders' Sentiment

Bearish market share decreased further from 56% to 55% during the previous trading session. However, majority of pending orders are now set to sell the Euro against US Dollar in both 50/100-pip ranges.

© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 11 Dec 2015 08:23:22 GMT

GBP/USD weakens ahead of US data

The Cable was a few steps away from touching the major level of 1.51 yesterday, but rebounded from the daily low, with trade closing at 1.5161.

Thu, 10 Dec 2015 15:47:05 GMT

NZD/USD extends post-RBNZ rally

Even though the RBNZ cut its cash rate yesterday, the New Zealand Dollar still appreciated against its US counterpart, as the bank announced that no further easing is required for the inflation to reach its 2% target.

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.