© Dukascopy Bank SA
- JPMorgan (based on CNBC)
Pair's Outlook
Rally of EUR/USD proved to be fragile once it encountered an accelerated uptrend resistance at 1.2683/1.2700. At the moment the currency pair is gaining bearish momentum in an attempt to renew its long-term tendency to slide down while being capped by 1.2847/68. The initial support lies at 1.2584/73, followed by 1.2476 and 1.2420/1.2399.
Traders' Sentiment
Stance of SWFX market participants is mixed towards EUR/USD, as the ratio between long and short positions is 50% to 50%, even though the single European currency remains the most frequently acquired (in 67% of cases). Buy orders, on the other had, constitute 55% of the overall amount of bids, whereas sell orders - 45%.
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