Dukascopy

EUR/USD's bears to face monthly R2

FX:EURUSD   Euro Fx/U.S. Dollar
92 0 1
"Markets are looking to Yellen's testimony this week to see whether she will still leave an option open for a March rate increase or sound dovish."
- Sumitomo Mitsui Trust Bank (based on Bloomberg)

Pair's Outlook
Last Friday was the first bearish day for EUR/USD             in six consecutive trading sessions. After touching the third monthly resistance at 1.1246, the pair has immediately bounced back to close slightly above 1.1150. On Monday the volatility could wane, but the bears will continue aiming at the monthly R2 at 1.1115. Success here should put more pressure on the pair, in order to send it down to 200-day SMA at 1.1052. The moving average should in turn be able to underpin EUR/USD             along with the weekly pivot point at 1.1072.

Traders' Sentiment
Only 34% of all traders are going long on the common European currency on Monday, down from 48% before the weekend. On the other hand, more than 50% of all pending orders keep betting on EUR/USD's future gains.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
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
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out