© Dukascopy Bank SA
- BMO Capital (based on MarketWatch)
Pair's Outlook
EUR/USD opened this week below the 100-day SMA, but still seems to be willing to advance further north from here. The nearest resistance is the 55-day SMA at 1.3650, but we should not rule out a possibility of a rally extending up to the major down-trend line at 1.3744 in the next few weeks, especially if the monthly R1 level at 1.3678 is breached.
Traders' Sentiment
The difference between the bullish and bearish market participants keeps on growing—while the share of the former fell down to 39%, the latter now take up 61% of the market. As for the orders placed 100 pips from the spot, 74% of them are to sell the Euro against the U.S. Dollar.
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