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- Rochford Capital (based on Bloomberg)
Pair's Outlook
EUR/USD has decided not to interrupt its move downwards and is about to hit a support at 1.2645/42, which stands in the way of reaching 1.2580. Given preceding behaviour of the pair, it is likely that it will slide down to 1.2509 eventually, break of which would imply increased possibility of extension of a dip to 1.18 - downtrend support.
Traders' Sentiment
According to SWFX Sentiment index, the ratio of bullish market participants to bearish ones remains more or less stable and currently is 63% to 37%. Moreover, the single European currency remains the most popular at the moment, being bought much more frequently than its major counterparts.
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