© Dukascopy Bank SA
- ABN Amro Bank NV (based on Bloomberg)
Pair's Outlook
The most traded currency pair made a slight correction to the downside after a three-day long bullish move. The pair went back below the weekly R1 and 20-day SMA to close the yesterday's trading session just above the long-term downtrend line at 1.2409. We assume that there is a possibility of this important level to be crossed soon and the single currency is going to depreciate further, with the short-term target represented by weekly PP at 1.2352.
Traders' Sentiment
During last 24 hours, sentiment on EUR/USD experienced no changes, as 47% of all positions are still staying long. Pending orders in 100-pip range, however, worsened even more, as now only 35% of them are set to acquire the Euro versus the US dollar.
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