© Dukascopy Bank SA
- ABN Amro Bank NV (based on Bloomberg)
Pair's Outlook
Pressure on the EUR/USD currency pair was enormous on Thursday, following the ultra-dovish ECB press conference. A drop exceeded all expectations as the pair lost more than two figures and even fell below the 200-day SMA to close the trading session at 1.1108, down from the day's opening level of 1.1338. EUR/USD was only stopped by the Sep low at 1.1086, a breach of which on Friday will definitely expose the monthly S1 at 1.1022, followed by monthly S2 at 1.0868. Some rebound is not off the table, but overall sentiment remains largely dovish.
Traders' Sentiment
SWFX sentiment became neutral by Friday morning (55% bearish yesterday). Long pending orders in 100-pip range from the spot slipped from 56% to 42%.
© Dukascopy Bank SA