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- Rochford Capital (based on Bloomberg)
Pair's Outlook
EUR/USD still preserves some bullish momentum since Friday, as suggested by technical indicators on a daily timeframe. However, it is expected to wane afterwards, since resistance at 1.2410/40 is already proving the present rally of the pair to be fragile. Further appreciation of the Euro will encounter levels at 1.2535 and 1.2633/44, while dips will be limited by supports at 1.2337/34 and 1.2252/26.
Traders' Sentiment
Being that the shares of long and short positions are nearly equal, 49% to 51%, respectively, sentiment of traders towards EUR/USD remains mixed, while popularities of the Euro and U.S. Dollar are the same, since these currencies are both being bought in 58% of cases.
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