Euro (EUR / USD) price, chart and analysis
- EUR / USD in the fight against 1.2200 – a bigger test is ahead.
- A quiet start to a quiet week.
A week that starts little on the economic calendar to motivate traders can be seen EUR/USD trampling water from the clutch of more interesting data points starting tomorrow. All these crucial publications have the potential to move towards the EUR / USD and should be closely monitored.
For all economic data and events in the market, see DailyFX calendar.
The EUR / USD continues to struggle with a resilience of around 1.2243 / 46, despite a recent trend that remains intact. The one-month higher lower and higher series remain in place, while the three simple moving averages are now in the positive setting, with 50-dsma breaking above 200-dsma to form a golden cross. To move higher in a pair, the resistance must be broken and opened from above to reach the highest value of 1.2349 on January 6. The US dollar Although the basket (DXY) has reduced its opening losses, albeit smaller losses, in today’s thin liquidity, the higher shift of each return to the EUR / USD again weighs.
EUR / USD daily price chart (September 2020 – May 24, 2021)
Data from retailers show that 36.80% of traders are net long and the ratio of short to long traders is 1.72: 1. The number of net long traders is 13.15% higher than yesterday and 13.49% higher than last week, while the number of net short traders is 1.73% lower than yesterday and 5.54% lower than last week.
We usually view the contradictory situation of the crowd and the fact that traders are short indicates a continuing rise in EUR / USD prices.However, traders are less net short than yesterday and compared to last week. Recent changes in mood warn that the current The EUR / USD price trend may soon turn lower, despite the fact that traders remain net short.
What is your view EUR / USD – bullish or bearish ?? You can let us know via the form at the end of this section, or you can contact the author via Twitter @ nickcawley1.