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- Worldwide Markets (based on CNBC)
Pair's Outlook
EUR/USD has strongly rebounded from an uptrend support yesterday. The short-squeeze has led to an attainment of resistance at 1.2453/80 - location the last obstacle en route to 1.2519/56, namely a downtrend resistance line since August 2011. Since the latter level is highly unlikely to be breached, the next week is expected to be bearish, as pointed out by most of technical indicators on a weekly chart.
Traders' Sentiment
While the levels of popularity for the Euro and U.S. Dollar in SWFX marketplace have become equal, the number those who support the single European currency against the greenback declined in numbers (to 46%) in relation to bearish towards the EUR/USD currency pair market participants.
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