© Dukascopy Bank SA
- AFEX Markets Plc (based on CNBC)
Pair's Outlook
Currently EUR/USD is attempting to bounce from an accelerated uptrend support at 1.2271, but the rally should to be shallow, given that medium and long-term outlooks remain bearish. An initial resistance lies at 1.2319/37 and is likely to halt advancement in conjunction with the following resistance at 1.2385/96 (55 day SMA).
Traders' Sentiment
Despite the Euro being the most frequently acquired currency in SWFX marketplace (in 66% of cases), traders' sentiment remains neutral particularly towards EUR/USD, as 51% of traders are bullish and 49% are bearish on the pair. Orders, on the other hand, reveal much more negative sentiment, since 59% of them are to sell the common currency.
© Dukascopy Bank SA