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- Daisuke Uno, Sumitomo Mitsui Banking Corp. (based on CNBC)
Pair's Outlook
Even though EUR/USD crawls higher, it remains inclined to breach an uptrend support at 1.2353/22 and then target some of the lower levels at 1.2263, 1.2206/1.2194 or even 1.2134, since the market is suggested by the weekly technical indicators to become down-oriented. In the meantime, resistances at 1.2392 and 1.2438/53 should contain the currency pair from above.
Traders' Sentiment
The share of bullish market participants has fallen to 48%, however, the general market sentiment is still mixed and does not inform of the future trend EUR/USD will take. Orders also point out the fact that the market is neutral towards the pair, as the ratio between buy and sell orders is one-to-one.
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