© Dukascopy Bank SA
- Rabobank (based on CNBC)
Pair's Outlook
Since the daily and weekly technical indicators are mostly bearish, the immediate resistance, namely the 55-day SMA and monthly PP at 1.3630/09, should be safe. Accordingly, the currency pair is more likely to move South, where it is going to meet the monthly S1 and up-trend line at 1.3568/63. If the selling persists beyond this point, there is supposed to be strong demand also near 1.35, which is able to keep the Euro afloat.
Traders' Sentiment
Right now there is no meaningful difference between the numbers of bullish and bearish market participants, as they take up 46 and 54% respectively. Concerning the orders, 45% are to buy and 55% are to sell the common currency against the Buck.
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