Dukascopy Bank Team
Dukascopy Bank SA
"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.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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