© Dukascopy Bank SA
- Makoto Noji, SMBC Nikko Securities (based on CNBC)
Pair's Outlook
EUR/USD continuously refuses to submit to a bearish outlook and has broken yet another resistance (1.2513/30), which was supposed to contain the current rally of the pair. Now the currency couple faces a combination of two downtrend resistance lines that will attempt to halt the advancement once the price comes into a range between 1.2576/1.2633.
Traders' Sentiment
The share of long positions on EUR/USD has declined once again, as bullish traders presently constitute 44% of the market, while bears continue to enlarge their advantage and already form 56% of the market. On the other hand, the ratio between buy and sell orders placed on the currency pair is one-to-one.
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