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- Credit Agricole (based on MarketWatch)
Pair's Outlook
According to signals of the short-term technical indicators, EUR/USD should continue stepping higher at an accelerated pace, but we have to be aware of a soon reversal that might take place. If resistance at 1.2379/96 does not prove to be able to curb the Euro, current rally will be likely halted by 1.2519 in conjunction with 1.2569/1.2633, being a congregation of resistances.
Traders' Sentiment
Market participants appear to be undecided with respect to further tendency of EUR/USD, being that 51% of them are holding long positions and 49% stay short. As for the orders, they also do not support existence of a consensus among traders, as 45% are to acquire the Euro and 55% are to sell it against the U.S. Dollar.
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