EUR/USD trades at key trend-line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We entered a short EUR/USD recommendation Wednesday, targeting a move down to 1.32 with our stop set at 1.3975. We think rate differentials are likely to move against the euro once again in the near-term."
- BNP Paribas (based on CNBC)

Pair's Outlook

At the moment EUR/USD is forcing its way through a tough supply area created by the major down-trend resistance and the recent peak. In order to confirm its bullish intentions the currency pair is required to settle above 1.3847/15. Until then the outlook will remain negative, even though the daily and weekly technical indicators continue pointing upwards.

Traders' Sentiment

Being that the price's rate of change has notably slowed down lately, the distribution between the long and short positions has not been subject to any noticeable variation. Presently 41% of market participants assume the Euro will appreciate, whereas the majority (59%) believe in an alternative scenario.
© Dukascopy Bank SA
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