© Dukascopy Bank SA
- BK Asset Management (based on CNBC)
Pair's Outlook
Despite constant attempts to escape the recently established trading range EUR/USD continues to move sideways. In order to revive the downward momentum the currency pair will have to break the support at 1.3350, this will imply a test of the demand area at 1.35 (2013 Q4 low and monthly S1). And while the near-term technical indicators are in favour of such a dip, monthly studies are still largely against the bearish activity.
Traders' Sentiment
While the distribution between the bullish and bearish SWFX market participants is almost the same as yesterday—53 and 47% respectively, the share of orders set to sell the Euro went up, namely from 49 to 56%.
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