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- Nomura (based on WSJ)
Pair's Outlook
A formidable support area at 1.2565/85 managed to repel the currency pair, supposedly bringing to an end bullish correction, which was started after an encounter with a downtrend support at 1.2334/16. In case EUR/USD still erodes 1.2565/85, resistances at 1.2660 and 1.2773 will come into play, limiting further gains. An interim support, on the other hand, may be found at 1.2436, followed by a key zone at 1.2300/1.2249.
Traders' Sentiment
Disposition of long and short positions on EUR/USD remains unchanged, as bulls constitute 49% of the market, while the portion of bears is 51% at the moment. At the same time the common European currency keeps its status as the most popular among traders in SWFX marketplace.
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