© Dukascopy Bank SA
- Global Hunter Securities (based on CNBC)
Pair's Outlook
Advancement of EUR/USD did not extend beyond a 55 day SMA, which has been retaining the pair in a downtrend for more than three months. An initial support zone at 1.2264/26 is unlikely to withstand bearish pressure for long, eventually giving way for a deeper dip, to 1.2061/1.1996. The nearest resistance, on the other hand, may be found at 1.2334/34.
Traders' Sentiment
SWFX traders' sentiment is perfectly neutral towards EUR/USD, as both long and short positions constitute equal shares in the market, even though the Euro is more frequently acquired currency than the U.S. Dollar. On the other hand, orders reveal propensity of traders to place sell orders on the pair, the portion of which is 56% at the moment of the total amount.
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