© Dukascopy Bank SA
- Toshiya Yamauchi, Ueda Harlow (based on Bloomberg)
Pair's Outlook
After traveling down to the monthly R1 the currency pair returned back to the major down-trend resistance line, intactness of which implies long-term bearish outlook for EUR/USD. Accordingly, it is expected that despite the bullish signals observed on the daily and monthly time-frames, the Euro will soon leave the vicinity of 1.3760 and start eroding the support at 1.3678.
Traders' Sentiment
Nothing has changed over the weekend in terms of traders' sentiment—it remains explicitly bearish, as 65% of open positions are short and only 35% of them are long. As for the orders 100 pips from the spot price, the amounts of the ones to buy and to sell are exactly the same.
© Dukascopy Bank SA