Dukascopy_Analyst

EUR/USD closes under moving average

FX:EURUSD   Euro Fx/U.S. Dollar
89 0 2
"I'm hoping the G-20 will be a trigger for a turnaround in market sentiment."
- Ayako Sera, Sumitomo Mitsui Trust Bank Ltd. (based on Bloomberg)

Pair's Outlook
The pair dipped under the 200-day SMA yesterday, which reinforces our near-term bearish outlook on the Euro             . The intraday rallies are now to be contained by a new resistance level at 1.1046, while the immediate target is a cluster of supports at 1.0972/54. There, solid demand is implied by the lower bound of the channel, monthly R1, and 100-day SMA , and the price should thus bottom out and commence a multi-week recovery here.

Traders' Sentiment
The SWFX market is in perfect equilibrium with respect to the European currency—50% of positions are long and 50% are short. Concerning the orders, there is only a slight advantage of sell commands (55%) over the buy ones (45%).
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out