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- BK Asset Management (based on CNBC)
Pair's Outlook
EUR/USD is currently performing a bearish correction, which might extend down to 1.2706 or even to 1.2592/84 and in both cases it should preserve positive outlook. A dip below 1.2556/38, on the other hand, may have fairly negative consequences, as the pair will return to a downtrend channel. In order for the price to confirm long-term bullish intentions, it will have to surge beyond the 200 day SMA, which is presently at 1.2807/13 and has not been violated for a year.
Traders' Sentiment
Being that the U.S. Dollar is the most popular currency at the moment in SWFX marketplace, sentiment towards EUR/USD is bearish, as only 43% of traders support appreciation of the Euro, while the rest (57%) expect the greenback to gain value.
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