© Dukascopy Bank SA
- RMG Wealth Management (based on CNBC)
Pair's Outlook
Without even going though a half of a potential distance, EUR/USD stalled just below 1.2955, revealing that it lacks upward impetus required to remain on the rise. However, the outlook is still bullish, since an uptrend support line is intact, suggesting that current weakness is only temporary and will not develop into a full-blown dip, which is expected to be the case closer to the end of the month.
Traders' Sentiment
SWFX traders' sentiment towards EUR/USD is unchanged since yesterday, as long positions continue to constitute 43% of the market, while short ones are 57% of it. As for the orders, 52% are to buy the single European currency and 48% are to sell it for the U.S. Dollar.
© Dukascopy Bank SA