© Dukascopy Bank SA
- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
The support at 1.3613/1.3598, consisting of the 55 and 100-day SMAs, has finally given in to the selling pressure, thereby exposing the monthly S1 at 1.3547/45. Once this area is also crossed, EUR/USD will be headed towards the August high at 1.3451/28, which the currency pair might find strong, considering that the 200-day SMA is nearby.
Traders' Sentiment
Since the publication of the previous report the portion of long positions has risen by one percentage point to 43%. An increase in the buy orders was much more significant—from 17% to 32% within 50 pips from the spot and from 26% up to 37% within 100 pips from the current price.
© Dukascopy Bank SA