© Dukascopy Bank SA
- Stanley Fischer, Federal Reserve Vice Chairman (based on MarketWatch)
Pair's Outlook
EUR/USD is approaching a decision-making point inside the triangle pattern, as it has neared the 2014 low around 1.2350 and has almost fully filled the pattern. We expect a break-out at the end of this or in the beginning of the next week. However, the pair is currently limited from both sides by major obstacles, including triangle's boundaries, weekly and monthly pivot points. Meanwhile, weekly technical studies expect the break-out to happen to the south.
Traders' Sentiment
From yesterday, the overall distribution between long and short positions improved and returned back to the positive side. At the moment there are 54% bullish and 46% bearish positions. Bullish pending orders in 100-pip range, however, dropped to 39%.
© Dukascopy Bank SA