EUR/USD tumbled to 1.3518/01

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The ECB is just all about inflation. The argument for the rate cut last month, and potentially the argument to do more, is still that inflation is way below their 2% target."
- BMO Capital Markets (based on MarketWatch)

Pair's Outlook

EUR/USD decoupled from the up-trend resistance it traded near last week and slipped through the 55-day SMA at 1.3568/65. Now the currency pair is approaching another support at 1.3518/01, which is formed by the monthly PP, weekly S1 and 20-day SMA. According to the daily and weekly indicators this area is likely to stay intact and send the price towards the nearest resistances.

Traders' Sentiment

While previously the share of the long positions has been diminishing, during the last 24 hours the tendency changed because of a dip in the price and now 42% (40% yesterday) of the SWFX traders expect appreciation of the single European currency relative to the buck.
© Dukascopy Bank SA
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