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- RWC Partners (based on CNBC)
Pair's Outlook
Bullish correction did not drag EUR/USD far above 1.2555/85 and now appears to be fully terminated. The currency pair is currently heading towards an interim support located at 1.2436, which in case of a breach will pave the way to 1.2301/1.2249. The latter area, however, is unlikely to give in easily, but should capitulate eventually, given the overall negative outlook.
Traders' Sentiment
Despite the European currency being the most popular in SWFX marketplace, traders' sentiment towards EUR/USD remains mixed and largely unchanged, since 51% of opened positions are long and 49% of them are short. As for the orders placed on the currency pair, 41% of them are to acquire the Euro and 59% to short-sell it against the U.S. Dollar.
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