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- Credit Agricole (based on MarketWatch)
Pair's Outlook
Resistance at 1.2806/08 stopped advancement of the currency pair, which is likely to consolidate before attempting to continue its upward movement. Subsequent levels are at 1.2864/1.2907 and 1.2953, but eventually should give in case bullish momentum proves to be preserved. In the meantime, dips are to be contained by supports at 1.2765 and 1.2704.
Traders' Sentiment
Traders' sentiment in unchanged towards EUR/USD, being that 58% of positions are still short and 42% of them are long. At the same time the U.S. Dollar is the most frequently acquired currency among its major counterparts (in 63% of cases). Orders, on the other hand, do not support bullish bias, since the ratio between buy and sell orders is 53% to 47%, accordingly.
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