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- Moody's Analytics (based on MarketWatch)
Pair's Outlook
EUR/USD dropped in its value on Friday of the last week. The pair consolidated further below the 1.25 mark and reaches the weekly pivot point at 1.2447. At the moment the cross is hovering between this support line and the monthly pivot point at 1.2468. We assume the resistance to be rather strong in order to hold the pair's bulls from any upside movement. Therefore, it is likely that the single currency will depreciate to 1.24 in course of Monday.
Traders' Sentiment
Market sentiment on the EUR/USD currency pair remained unchanged during the weekend, as 54% of all traders forecast the single currency to advance. Pending orders stayed in the red zone, with only 40% of them set to buy the Euro in both ranges.
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