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Pair's Outlook
EUR/USD was unable to sustain Friday's rally due to an encounter with a tough resistance located at 1.2671/84. This has lead to a pullback to a support at 1.2587/73, which may trigger some temporary short-squeezing, but is expected to be soon eroded nevertheless. Additional levels are to be found at 1.2483 and 1.2418/1.2399, since the overall outlook remains bearish.
Traders' Sentiment
SWFX traders' sentiment towards EUR/USD remains neutral, as the ratio between long and short positions is 51% to 49%, regardless of the common currency being the most popular among its major counterparts. The situation with orders placed on the pair is very much alike, as 49% of them are buy orders and 51% are sell orders, signifying current indecision of market participants.
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