© Dukascopy Bank SA
- Tempus Consulting (Based on CNBC)
Pair's Outlook
After a robust rally EUR/USD has formed a pin bar, implying significant selling pressure zone located above the current price, namely around weekly and monthly pivot points and the 20-day SMA. However, the pair preserves potential to advance and attempt to return to an up-trend resistance line it has breached in the beginning of the previous week.
Traders' Sentiment
The gap between the amount of bulls and bears has widened, although it is not yet large enough to say the sentiment is strongly negative towards EUR/USD. The share of long positions is 46%, while short ones constitute 54% of the market. Distribution between buy and sell orders also does not give a certain signal, being 51% to 49%, respectively.
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