© Dukascopy Bank SA
- Rabobank (based on CNBC)
Pair's Outlook
Decline of EUR/USD stalled just ahead of 1.2963/57, implying that bearish correction has ended. Nevertheless, the pair is still under danger of extending the dip down to an uptrend support line, currently standing at 1.2856, prior to re-establishing robust rally in the coming days. Additional supports are at 1.2826/1.2786 and 1.2702/1.2697, while an interim resistance lies at 1.3104/51.
Traders' Sentiment
SWFX traders' sentiment has slightly worsened towards EUR/USD, as the share of bullish marketplace participants has diminished to 43%, while bears currently constitute 57% of the market. Moreover, the ratio between buy and sell orders is 45% to 55%, accordingly.
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