© Dukascopy Bank SA
- JP Morgan (based on Reuters)
Pair's Outlook
On Thursday the EUR/USD currency pair hovered in the range between major level at 1.25 and the closest resistance line, still represented by the weekly R1 at 1.2580. Despite changes in perceptions of daily technical indicators from bearish to bullish, we predict the pair to stay around the current trading level for the remaining part of the week, while from Monday the pair is likely to start losing value and prolong its long-term downward trend.
Traders' Sentiment
Market sentiment on EUR/USD remained fully unchanged in course of last 24 hours, as 50% of all positions are still held both by bulls and bears. Pending orders in both ranges improved and 55% of them are now set to acquire to single currency in 100-pip range.
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