© Dukascopy Bank SA
- Berenberg Bank (based on Bloomberg)
Pair's Outlook
EUR/USD pair continued to trade under the bearish pressure, as they pushed the cross below 1.23. At the moment the only support before the 2014 low is represented by a Bollinger band at 1.2255, which is not supposed to create major problems for pair's bears. Even though daily technical studies are still neutral, weekly ones are pointing to the downside, meaning that the next week we are likely to see a testing of this year's low.
Traders' Sentiment
Distribution between bullish and bearish opened positions on the SWFX market returned back to the positive side, as the former are now in the majority with 51%. Meanwhile, commands to buy the Euro dropped considerably to 39% in 100-pip range from the spot.
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