© Dukascopy Bank SA
- Worldwide Markets (based on CNBC)
Pair's Outlook
The currency pair continues to drift lower and is likely to gain more bearish momentum in near future, as more indicators give "sell" signals, especially for a daily timeframe. The initial formidable support EUR/USD may bump into lies at 1.2128/06, below which the pair will be able to encounter 1.1986/26, where a bullish correction is probably going to be commenced.
Traders' Sentiment
The share of bullish towards EUR/USD market participants is gradually growing and has already reached 68% of the market. Accordingly, the portion of bears is going down, being 32% at the moment, since the Euro is the most frequently acquired currency in SWFX marketplace (in 71% of cases). The ratio between buy and sell orders, on the other hand, is 46% to 54%.
© Dukascopy Bank SA