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- FXCM (based on CNBC)
Pair's Outlook
Yesterday's plunge has effortlessly penetrated some of the supports, including 1.3104; however, a combination of 20 and 200-day SMAs with weekly and monthly pivot points did not allow further depreciation of the single currency. Still, the bearish pressure is highly unlikely to disappear at once and the downside risk will persist.
Traders' Sentiment
The dominance of bears over bulls is becoming more distinct in EUR/USD, since the share of the former has increased up to 61% from 57% yesterday after a sharp decline. As for the orders, there is no notable difference between the amount of buy (52%) and sell (48%) orders at the moment.
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