Dukascopy_Analyst

EUR/USD ignores data, remains unchanged

FX:EURUSD   Euro / U.S. Dollar
49 0 1
"The ECB is doing little to counter this market speculation. Should they not deliver now it would clearly cause a huge backlash with regards to the euro             and overall valuations."
- Commerzbank (based on Bloomberg)

Pair's Outlook
EUR/USD             attempted to develop beyond 1.06 on Monday, but the Euro's bulls managed to stabilize the situation and sent the currency pair back to 1.0650. Nonetheless, bearish expectations are still on the table and the key target level is April low at 1.0519. Trading volume is relatively high, meaning volatility is not prepared to diminish. As for the technical indicators on a daily time-frame, the majority of them are mixed with respect to EUR/USD             . Among them, RSI assumes the pair is neither oversold nor overbought, despite a strong decline that has taken place recently.

Traders' Sentiment
Market sentiment became completely undecided in the past 24 hours. Separately, only 35% of 100-pip pending orders are set to acquire the 19-nation currency.
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