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- Cambridge Mercantile Group (based on CNBC)
Pair's Outlook
EUR/USD continues to consolidate just below a 55 day SMA at 1.2406, but is nevertheless unlikely to overcome it and then resume advancement towards a key resistance at 1.2618/44, being that most of indicators on a weekly timeframe give "sell" signals. An interim support lies at 1.2337/34, followed by 1.2264/26 and 1.2060/1.1996.
Traders' Sentiment
At the moment 47% of SWFX marketplace participants are holding long positions, expecting appreciation of the Euro. On the other hand, 53% of traders are short on the pair, implying mixed overall sentiment towards the currency couple. Moreover, the share of buy orders is 51% and sell orders constitute 49% of the total amount.
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