EUR/USD aims for 1.3758

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There's a feeling in the market that the Fed might slow the pace of tapering, or even pause. Dollar weakness is set to continue."
- Ueda Harlow (based on Bloomberg)


Pair's Outlook

Even though last week EUR/USD had trouble passing through some of the resistances, the currency pair preserved the bullish momentum. However, being that the Euro is approaching the major multi-year down-trend line at 1.3758, there are significant downside risks at the moment, despite the ‘buy' signals provided by the technical indicators.

Traders' Sentiment

The sentiment is considerably more bearish towards EUR/USD than a week ago, when 61% of open positions were short. The percentage of traders believing the single currency is going to lose value increased up to 66%. Meanwhile, the amounts of buy (45%) and sell (55%) orders are more or less equal.
© Dukascopy Bank SA

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