© Dukascopy Bank SA
- RBS Securities (based on CNBC)
Pair's Outlook
EUR/USD slacks off its speed as the pair approaches an initial resistance located at 1.2660/74, which, in conjunction with 1.2746, should be capable of containing near-term rallies. In an unlikely scenario, when these levels are breached, the outlook will still remain bearish, as long as a key area at 1.2831/93 is intact. Supports at 1.2565 and at 1.2514, on the other hand, should prevent dips from extending further.
Traders' Sentiment
The stance of SWFX market participants remains largely unchanged since the last report, since both bullish and bearish traders constitute nearly equal shares of the market, despite the Euro being by far more popular than the U.S. Dollar. Situation with orders placed on EUR/USD is similar, as the portion of buy orders is 51%, while sell orders make up 49% of the total amount.
© Dukascopy Bank SA