© Dukascopy Bank SA
- ABN Amro Bank NV (based on Bloomberg)
Pair's Outlook
EUR/USD pair declined substantially on Thursday and reached the level of monthly S1 at 1.2376. The new 2014 low, however, was set even lower around 1.2363, but the single currency managed to return above the support line by the end of the day. The next line, which can stop the pair's further plunge, is located at 1.23 (weekly S2). Technical indicators remain mixed in the short-term, while weekly studies still point on the pair's downward development.
Traders' Sentiment
Long opened positions continued to improve their share on the market, as they almost reached 55% today, up from 54% seen 24 hours ago. Pending orders, however, worsened since last report, as 56% of them are now set to sell the Euro in 100-pip range.
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