© Dukascopy Bank SA
- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
Recovery of EUR/USD yesterday did not live up to expectations, as it seized to exist far from 1.2386/97, but was still present. At the moment the currency pair is heading towards 1.2128/06, though it will have to breach an initial level located at 1.2240 first. Moreover, given current outlook and signals of most of indicators, the price is likely to extend losses down to 1.1986/26.
Traders' Sentiment
The share of bullish towards EUR/USD market participants remains unchanged at 61%, while bearish traders continue to constitute 39% of the market, since the single European currency is the most popular among its major counterparts. However, the expected rally is likely to be shallow, since only 38% of orders are to buy the Euro, the rest of them (62%) are to sell it.
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