© Dukascopy Bank SA
- HSBC (based on CNBC)
Pair's Outlook
Bullish run of EUR/USD has come to an end, as the currency pair has broken down through the uptrend line, which supported appreciation of the Euro since July 24. Moreover, short-term indicators became neutral, after giving strong "buy" signal just recently. The initial target lies at 1.2196/64, followed by 1.2118, while violation of the latter level would expose 1.1996/95.
Traders' Sentiment
The portion of long positions on EUR/USD has increased up to 52%, but the sentiment remains neutral, even though the Euro is the most frequently acquired currency in SWFX market (in 65% of cases). On the other hand, sell orders are in majority, constituting 56% of the total amount.
© Dukascopy Bank SA