© Dukascopy Bank SA
- Action Economics (based on CNBC)
Pair's Outlook
Rally of EUR/USD on Friday proved to be short-lived, as it was halted by resistance at 1.2247, which currently guards subsequent levels at 1.2332 and 1.2386/1.2419. The currency pair is thus likely to focus on reaching for supports that may be found at 1.2161 and 1.2106/1.2075, while a longer term target remains near a formidable line at 1.1989.
Traders' Sentiment
The overwhelming majority of SWFX marketplace traders (70%) stay bullish on EUR/USD, since the single European currency is the most frequently bought (in 73% of cases) relative to its major counterparts. The situation with orders placed on the currency pair, however, is not as unequivocal, as the shares of buy and sell orders are 51% and 49%, respectively.
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