EUR/USD dips below the weekly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Things are maybe not quite as doom and gloom as people have thought for a long time. Even though we face enormous issues in Europe, it feels like progress has been made."
- Goldman Sachs (based on Business Standard)

Pair's Outlook
Pair started the week in a clam fashion, but is giving clearer bearish directional signal and has dipped below the weekly PP. Although technical indicators give bullish outlooks we should pay attention tot eh fact that quite a few individual indicators give neutral outlook. All in  all, it seems that the pair should continue trailing lower until it touches 20-day SMA.

Traders' Sentiment
Market sentiment remains largely unchanged with bears having tight grip on the market. They account for 64% (+1% since yesterday) of market participants; 57% (+2% since yesterday) of pending orders are in their favour as well.

© Dukascopy Bank SA

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