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- ING Group (Based on Bloomberg)
Pair's Outlook
As we can see from a graph, the 200-day SMA level at 1.2900 was strong enough to stop a EUR/USD decrease and push the pair up to check the 1.2963/73 area, where the 20-day SMA and the weekly PP lie. However, this currency pair forms a taper triangle with a narrowing range of fluctuation, together with all time frames RSI value around 50. This means EUR/USD consolidates and prepares a high time frame impulse to one of the sides.
Traders' Sentiment
Traders' sentiments on EUR/USD slightly change to bearish, as 47% traders have a long position and 53% hold a short. Almost equal distribution between trading positions shows that there is a lot of confusion among market players. Pending orders segment is also very similar, as 52% orders are for a buy and 48% for a sell.
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