© Dukascopy Bank SA
- Barclays (based on CNBC)
Pair's Outlook
EUR/USD remains flat just above 1.2106, but is expected to recommence inching lower, being that indicators for daily and monthly timeframes are mostly bearish. Moreover, there are no formidable supports until 1.2020/1.1976, from where the pair might undergo a prolonged bullish correction due to a strong downtrend support.
Traders' Sentiment
Portion of bulls has contracted to 60%, as some of the long positions are being closed. At the same time the share of bearish towards EUR/USD traders (40%) is increasing, gradually drawing the sentiment of SWFX market participants to a more neutral state. The ratio between buy and sell orders is 47% to 53%, respectively.
© Dukascopy Bank SA