© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
Following four attempts at the 1.1150 demand zone, EUR/USD proved levels beneath unattainable, continuing Wednesday's bounce towards the bottom trend-line of the broken three-week and three-month channels, 1.1253 and 1.1270 respectively. The pair is currently threatening to close above the 1.1190/1120 resistance level, opening the way to 1.1223, the upper boundary of the monthly descending triangle, where it could express its weakness with a sell-off to probe the same levels of significance, but from above.
Traders' Sentiment
SWFX traders have not changed the bearish sentiment, as 59% of open positions are short on Thursday. In the meantime, long pending commands have increased from 42% to 46% on Thursday morning.
© Dukascopy Bank SA