© Dukascopy Bank SA
- ABN Amro Bank NV (based on Bloomberg)
Pair's Outlook
On Wednesday, the EUR/USD currency pair gained value for a third day in a row, as the single currency reached the weekly R1 at 1.2532. However, this level together with the long-term downtrend line stopped the pair's increase, and it was forced to give up the idea of breaching this level. It is worth pointing out that daily technical indicators changed from bearish to neutral, meaning that the Euro still has a chance to advance and cross the mentioned resistance.
Traders' Sentiment
The gap between long and short positions widened during past 24 hours, while at the moment bulls take up around 53% of all opened positions on the SWFX market. Meanwhile, pending orders in both 50 and 100-pip ranges improved as well.
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