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- Cyprus Minister of Finance (based on CNBC)
Pair's Outlook
Following seven days of consecutive losses for EUR/USD, on Friday the pair managed to erase some of them, as a demand area around 1.18 pushed the Euro to the north. At the moment bulls are facing an obstacle represented by the weekly pivot point and 2010 low around 1.1860. If the pair overcomes this resistance, we may see EUR/USD increasing up to the monthly S1 at 1.1939. Despite that, long-term outlooks for the pair still remain negative at the moment.
Traders' Sentiment
Market sentiment on EUR/USD pair remains neutral, as longs have decreased their advantage over the shorts, as share of the former reached 51%. Meanwhile, pending orders to acquire the Euro surged over the weekend, as share of longs advanced to 47%.
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