© Dukascopy Bank SA
- Citigroup (based on Bloomberg)
Pair's Outlook
Broad weakness of the U.S. Dollar allows the single European currency to continue gaining more and more ground. Right now EUR/USD is probing the weekly R1 at 1.3632, but has all the chances to reach out for the resistance at 1.3705/1.3673, created by the 55 and 200-day SMAs. Additional supply is supposed to be at 1.3751/28, and the key level is 1.39, where the long-term down-trend merges with the monthly R1.
Traders' Sentiment
The difference between the amounts remains insignificant, but little by little the bears (54%) are starting to crowd out the bulls (46%). At the same time there was a notable increase in the share of sell orders—from 51% up to 60%.
© Dukascopy Bank SA