EUR/USD charges at 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The trend is going to be toward dollar weakness. The actual Fed outcome nowhere near matched market expectations for hawkishness, which means that we probably aren't going to see rises in U.S. yields anytime soon."
- Citigroup (based on Bloomberg)


Pair's Outlook

Broad weakness of the U.S. Dollar allows the single European currency to continue gaining more and more ground. Right now EUR/USD is probing the weekly R1 at 1.3632, but has all the chances to reach out for the resistance at 1.3705/1.3673, created by the 55 and 200-day SMAs. Additional supply is supposed to be at 1.3751/28, and the key level is 1.39, where the long-term down-trend merges with the monthly R1.

Traders' Sentiment

The difference between the amounts remains insignificant, but little by little the bears (54%) are starting to crowd out the bulls (46%). At the same time there was a notable increase in the share of sell orders—from 51% up to 60%.
© Dukascopy Bank SA

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