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- Bank of America (based on CNBC)
Pair's Outlook
Following two days of gains, EUR/USD pair decided to resume losing value and plunged considerably on Wednesday. All in all, the cross dropped 94 pips during the trading session, thus crossing a support represented by the weekly pivot point at 1.1332. At the moment there is no major background for the Euro to advance. It proclaims that the current down-trend is likely to extend at least down to this year's low at 1.1115 in the near term.
Traders' Sentiment
Distribution between long and short opened positions on EUR/USD pair is completely unchanged for a third day in a row and stays at 49% vs 51%, respectively. At the same time, commands to buy the Euro in 100-pip range dropped again to reach just 29% this morning.
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