© Dukascopy Bank SA
- BK Asset Management (based on MarketWatch)
Pair's Outlook
Even though EUR/USD went up to the monthly R1 yesterday, the currency pair did not manage to get a foothold above 1.3646 and returned to where it opened the day, namely to the 100-day SMA. Still, there are good reasons to believe that eventually the Euro will be able to overcome the hurdle at 1.3681/78 and reach the main falling resistance line at 1.3744.
Traders' Sentiment
As EUR/USD has recently touched a resistance, there are now more short positions open. Their share in the market increased from 61% up to 63%. Concerning the orders, there is currently a significant advantage of sell ones (63%) over the ones to purchase the Euro against the greenback (37%).
© Dukascopy Bank SA