© Dukascopy Bank SA
- Helaba (based on Bloomberg)
Pair's Outlook
EUR/USD currency pair has just approached the recently-set 2014 low at 1.2271. It is likely that bears will try to test this level on Monday. If successful, the pair may decline down to monthly S2 in the short-term, which is also reinforced by weekly S1 at 1.22. In case of failure, we would assume the Euro to increase in value, at least up to monthly S1 around 1.2340 during the trading day.
Traders' Sentiment
Distribution between bullish and bearish opened positions remains slightly positive at the moment, as 53% and 47% of them are long and short, respectively. Pending orders in both 50 and 100-pip ranges from the spot price are almost on the same level, with only 32-33% of them are set to buy the Euro.
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