EUR/USD Analysis: Slowly treading higher on Friday
|"Euro-area economic confidence unexpectedly improved in Septemberin a sign the region's recovery is maintaining its momentum."
- based on Bloomberg
-
Pair’s Outlook
On early Friday morning the common European currency once more confirmed the channel up pattern's against the US Dollar lower trend line and moved higher. In general, it can be seen that for the past three consecutive trading sessions the currency exchange rate has been slowly moving northwards while experiencing high volatility, as it rebounded many times against the channel's support line. It is most likely, that the rate will continue these fluctuations and end today's trading higher than the opening price of 1.1222. -
Trader's Sentiment
SWFX market sentiment remains unchanged for the sixth consecutive trading session,as 60% of open positions are short. In the meantime, pending commands are 69% to sell the European currency.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.