EUR/USD to stay beneath 1.35

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The trend in euro is clearly down, and we think that story's got further to run."
- Westpac Banking (based on Bloomberg)


Pair's Outlook

Although the U.S. Dollar weakened because of the Friday's data, none of the significant resistances have been broken, meaning the downward trend is likely persist nonetheless. Moreover, most of the daily and weekly technical indicators are pointing South. Even if the Euro extends the rally, as suggested by some of the monthly studies, there is a tough supply zone at 1.3500/1.3478 the currency is considered to be unable to break for now.

Traders' Sentiment

While for some time the bullish market participants were growing in numbers, over the weekend their share dropped from 59% to 52%, making the difference between them and the bears insignificant once again.
© Dukascopy Bank SA

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