© Dukascopy Bank SA
- BK Asset Management (based on MarketWatch)
Pair's Outlook
Yesterday the pair closed above a downtrend resistance line and thereby has confirmed its intentions to advance further. In the short run EUR/USD is likely to stay bullish, but longer perspective remains in question, as formidable resistance at 1.2810/35 could potentially deny upward momentum and return the price back within a downtrend channel.
Traders' Sentiment
Slightly less than a half (45%) of market participants expect the single European currency to increase in price relatively to the greenback, whereas most of them (55%) presently hold short positions on the pair. On the other hand, the ratio between buy and sell orders is 53% to 47%, respectively.
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