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"What's going on in Greece and somewhat Spain has been the motive factor, and that's driving the euro down. Everyone thinks the Spanish will come around and borrow money from the Europeans. If those conclusions changed, the euro would be much lower"
- WorldWideMarkets Ltd. (Based on Bloomberg)Pair's OutlookEUR/USD extends it negative performance and have already broken a 1-month low at 1.2803. Although the price moves very closely with the sharply decreasing Bollinger's lower line, yesterday's closing point is exactly on the monthly S1 level at 1.2799, therefore the major currency pair may experience a slight correction soon. However, a real support level should be met at 1.2752, where the 200-day SMA and the weekly S1 go.
Traders' SentimentThe gap between bulls and bears has almost disappeared, as 48% traders keep a long position and 52% hold a short. Pending orders market provides exactly the same figures, as 48% investors have placed orders for a buy and 52% for a sell.
© Dukascopy Bank SA