EUR/USD surpasses October low

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"A slump in exports to Russia and lackluster shipments to the rest of the euro area weighed on output. Germany's domestic fundamentals remain sound. We expect private consumption to gradually strengthen again."
- Barclays Plc (based on Bloomberg)

Pair's Outlook
The single European currency managed to breach a considerable support line, represented by October low at 1.25, but bounced back in the beginning of Thursday. If today the pair closes below this level, then a decline down to 1.2376 will be highly estimated. Otherwise, the Euro may commence a recovery, which is the less likely scenario, taking into account rather bearish technical indicators on the EUR/USD cross and its overall bearish trend.

Traders' Sentiment
Distribution between long and short positions on this currency pair improved since yesterday, as now 54% of all traders are ready to acquire the Euro. Pending orders, however, changed just a little, with 52% of them set to buy the single currency in 100-pip range.

© Dukascopy Bank SA
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