© Dukascopy Bank SA
- Scotia Bank (based on CNBC)
Pair's Outlook
EUR/USD remains unable neither to overcome an initial resistance at 1.2402 (55 day SMA) nor to push through the nearest support at 1.2337/34. In the short-term the currency pair may try to climb over 1.2402 and aim for 1.2612/44, but will be capped there. A dip below 1.2337/34 and its subsequent extension towards 1.2060/1.9996, however, is our favoured scenario.
Traders' Sentiment
Even though the Euro is the most popular currency in SWFX marketplace at the moment, the share of long positions on EUR/USD (48%) is below the share of short positions (52%). On the other hand, the amount of buy orders (53%) is greater than the amount of sell orders (47%) on the pair.
© Dukascopy Bank SA