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- a trader at a Japanese bank (based on Reuters)
Pair's Outlook
Though not without the help of the FOMC comments, but EUR/USD has finally decoupled from the up-trend resistance at 1.3557/42 by taking a nosedive down to the August high and the 100-day SMA at 1.3451/23. Now the currency pair should erode this support and take a course towards the longer-term moving average at 1.3285/54, where the SMA is about to cross the monthly S2 from below.
Traders' Sentiment
Surprisingly, but the sentiment of the market was not subject to any significant changes, even though the exchange rates across the board were notably active. While the distance between the highest and the lowest point of the last EUR/USD candlestick amounted to more than 130 pips, the share of short positions dropped by only one percentage point to 56%.
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