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- Barclays Singapore (based on MarketWatch)
Pair's Outlook
Last Friday, the EUR/USD currency pair dropped considerably, as it reached the major level of 1.20 and crossed a number of important support lines, including the 2012 low. Moreover, the opening level in the morning of Monday was located just above the next cluster of supports, which is located around 1.1930 (monthly and weekly S1). If the pair manages to cross this area, we may suggest it will plummet down to 2010 low at 1.1874 in the next few days.
Traders' Sentiment
Bullish opened positions were completely unchanged during the weekend, as bulls are still remaining in the majority with 55%. Long pending orders in 100-pip range from the current market price climbed to 60%, the biggest level seen during last 11 working days.
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