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- RWC Partners (based on CNBC)
Pair's Outlook
EUR/USD is approaching the 1.2300 mark, which should be capable of holding the currency pair until the end of the current week and trigger some short squeezing. Although the long-term outlook for the currency couple remains negative, EUR/USD might retrace bacj to 1.2631, a breach of which would expose the 1.2778/1.2820 zone and 1.2984, respectively.
Traders' Sentiment
According to SWFX sentiment index, the single European currency is still the most popular among the traders in the marketplace, followed by the Australian Dollar. Accordingly, most of positions opened on EUR/USD are long, constituting 52% of the market, while shorts are in a slight minority, forming 48% of the total amount of trades.
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