EUR/USD trailing lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Euro-area economic activity should stabilize and recover at a slow pace. The risks surrounding the economic outlook for the euro area continue to be on the downside." 
- ECB President (based on Bloomberg)

Pair's Outlook
Pair maintains its mildly bearish stance as at the moment it seems to be consolidating below the weekly PP (1.327). As technical indicators give week aggregate signals (quite a few individual technicals give neutral outlook) it is very likely that the pair will be trading on the bearish market sentiment. Distribution of pending orders, however, suggests we could see some short term rallies which are likely to be capped by 1.335.

Traders' Sentiment
Situation in the market remains exactly the same as yesterday. 63% of market participants remain short on the pair; 58% of pending orders are set in their favor as well.

© Dukascopy Bank SA

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