© Dukascopy Bank SA
- Danske Bank (based on MarketWatch)
Pair's Outlook
A struggle between the bulls and bears continues at the resistance formed by the 200-day SMA. For now 1.3091/68 copes with attacks of EUR/USD, but once the price closes above the area, the rally could easily extend up to either 1.3187 or 1.3244/23. Unless this happens, the short-term outlook will remain bearish, even though daily technical indicators turned neutral.
Traders' Sentiment
Even though the price was far from being stable, SWFX market participants did not change their mind with respect to EUR/USD overnight. Just as yesterday 45% of positions are long and 55% are short. However, intentions of the traders did change, the share of buy orders grew up to 51% from 42%.
© Dukascopy Bank SA