© Dukascopy Bank SA
The EUR/USD cross is hovering around the lower trend-line of the pattern; moreover, it has dipped below the 1.23 mark. To our mind the Euro is likely to extend its underperformance relative to the US Dollar, with the overall bearish bias and also the 4H technical studies that are largely bearish. At the same time the SWFX traders' have not decided which side of the pair to take, as 53.45% of them have opened long positions, while 46.55% of them believe that the Euro is still too expensive.
© Dukascopy Bank SA