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- Citigroup (based on CNBC)
Pair's Outlook
For now EUR/USD is supported by the area at 1.3242/19, but we are more likely to see lower levels than a strong rebound from it. Once May 1 high is eroded, the pair should recommence the decline and slide down to a combination of the 55 and 200-day SMA at 1.3094/76. Moving further south from there may prove to be impossible for the price in the medium term.
Traders' Sentiment
The current distribution between the long and short positions opened on EUR/USD is 40% to 60% respectively, meaning that the sentiment is strongly bearish. This reflects the fact that on average the single currency is bought less frequently than USD, in 42% of trades against Dollar's 56%.
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