© Dukascopy Bank SA
- RBS Securities (based on CNBC)
Pair's Outlook
EUR/USD is extending its bullish correction and may even attain a level of 1.2386/1.2419, if resistance at 1.2332 is unable to defy pair's bullish momentum. Nonetheless, long-term outlook remains bearish, despite current shallow rally. An interim support lies at 1.2247, followed by 1.2161 and a formidable support area from 1.2106 to 1.2075.
Traders' Sentiment
Despite the narrowing gap between the amounts of long and short towards EUR/USD positions, the majority of traders (66%) remain bullish on the pair, as the 17-nation currency stays the most popular among its peers, being acquired in 73% of cases in the market overall. As for the orders, 41% of them are to buy the Euro, the rest 59% are to sell it against the U.S. Dollar.
© Dukascopy Bank SA