EUR/USD consolidates at 1.2492

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market is extremely short euro right now, very long the dollar and then we're entering into a week where you have a holiday truncated week in the U.S., plus payrolls at the end of the week"
- Macquarie (based on CNBC)

Pair's Outlook
EUR/USD has closed the gap after the weekend and is currently attempting to bounce off a downtrend support at 1.2492, which in turn is reinforced by 1.2433. Breach of the latter level will imply increased possibility of the pair trading even lower, down to 1.2300. Initial resistance is located at 1.2628/42, followed by subsequent levels at 1.2761and at 1.2818.

Traders' Sentiment
The single European currency remains the most popular relative to its peers among SWFX marketplace liquidity consumers, followed by the Australian Dollar, as 75% of trades involving the Euro are to buy the currency. Accordingly, majority of traders (62%) have preferred to acquire the Euro against the U.S. Dollar, which in turn keeps a third place in the overall popularity of currencies.

© Dukascopy Bank SA
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