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- Reuters
Pair's Outlook
Seems that EUR/USD pair settled beneath the uptrend line, as yesterday the price has touched the weekly PP level and uptrend line at 1.3017 and sharply pulled back. This movement has formed a decreasing candle with a long shadow on it. Although the triangle pattern is broken, the price might still form a downward sloping channel with a lower line at 1.2769, where the 200-SMA and the weekly S2 lie.
Traders' Sentiment
SWFX market participants maintain pessimism regarding EUR/USD pair, as 56% traders have a short position and 44% have a long position. Situation in pending orders market holds equilibrium, as both sides have 50% of orders.
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