© Dukascopy Bank SA
- Mizuho Securities Co. in Tokyo (based on Bloomberg)
Pair's Outlook
After being stopped by the Dec-Mar long-term downtrend line on Thursday, EUR/USD remained under pressure during last day of the week as well. Trading range was rather significant as it reached 150 pips on Friday. However, both opening and closing levels were located close to each other just below the 20-day SMA at 1.0885. At the moment, bearish scenario seems more realistic, taking into account strong supply zone between 1.09 and 1.095 that is unlikely to let bulls succeed in the near term.
Traders' Sentiment
Bullish opened positions at the SWFX market are accounting for 43% this morning, no change over the weekend.
© Dukascopy Bank SA