© Dukascopy Bank SA
– Mark Gilbert, Bloomberg
Pair's Outlook
On Thursday morning the common European currency remained below the weekly R1 at 1.0752 against the US Dollar. During the morning hours the rate once more attempted to break through the resistance level. This move was unexpected, as in accordance with various technical analysis factors the pair is set to fall to the 1.0666 mark. It seems that fundamental data and events are keeping the Euro flat against the Greenback. However, the previous forecast is still in force, and a fall is expected.
Traders' Sentiment
SWFX traders remain bearish on the pair, as 55% of open positions remain short, just as on Wednesday. Meanwhile, 57% of trader set up pending commands are set up to sell the Euro.
© Dukascopy Bank SA