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"The China index was good and the euro-region data were a little bit above expectations, even though they showed contraction, so that is positive for the euro"
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
Yesterday EUR/USD pair made another big move up, broke the previous three-week high and peaked at a new one—1.2898. Currently, the major currency pair is traded around 1.2885, where the first resistance zone begins and the historical flat zone's lower boundary lies. In case the pair reverses its direction, it would have a lot of place to move down, as more serious support levels might be met only around 1.2740/16 area.
Traders' Sentiment
SWFX market distribution slightly changes, as the bullish side increases by 1% till 48% and the bearish side shrinks till 52%. Market still holds mixed sentiments, as both sides have almost equal opposite positions. Pending orders market is more bullish, as 65% placed orders are buy and 35% are sell.
© Dukascopy Bank SA