Dukascopy_Analyst

EUR/USD to retest resistance cluster at 1.08

FX:EURUSD   Euro Fx/U.S. Dollar
376 1 1
"They put a lot of caveats in their liftoff. It's a theme that may haunt the dollar."
- FXCM             (based on Reuters)

Pair's Outlook
After FOMC meeting minutes said that a rate hike decision was "a close call", market participants decided to sell the Dollar on Wednesday. Gains are being prolonged on Thursday at the moment of writing, with EUR/USD             attempting to attack the busiest resistance zone at 1.08. However, another obstacle is represented by 55-day SMA at 1.0836, followed by 20-day SMA at 1.0861. Within the bearish pattern , the pair is capable of growing as high as weekly R1 near 1.0950, while the medium-term forecast still remains bearish , as suggested by technical indicators on all time frames.

Traders' Sentiment
The percentage bullish SWFX trades dipped from 43% to 41% by Thursday morning, while both 50 and 100-pip pending orders are still set to sell the Euro             in more than 60% of all cases.
Thought the liftoff had to do with the Chinese equity market opening down and circuit breakers activated a few times, which put pressure on Nikkei and the USDJPY.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out