EUR/USD stays directionless

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Interest rates holding at their lows of the day is why we have dollar weakness."
- RBS Securities (based on Reuters)


Pair's Outlook

EUR/USD remains trapped between the down-trend resistance at 1.3760 and the weekly PP at 1.3730, being unable to breach any of these levels. And even though the daily and monthly indicators are suggesting that eventually the Euro is going to rally, the path of the least resistance at the moment is to the downside. Then the currency pair will have an opportunity to test the 200-day SMA.

Traders' Sentiment

The distribution between the long and short positions stays perfectly unchanged—34% and 66% respectively, meaning the traders' sentiment is strongly bearish. Similarly, the gap between the amounts of buy and sell orders is also quite stable—32% and 68% accordingly.
© Dukascopy Bank SA

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