© Dukascopy Bank SA
- Royal Bank of Scotland Group Plc. (based on Bloomberg)
Pair's Outlook
Although EUR/USD does not appear to be in a hurry to rise, the currency is more inclined to move higher from here, being that the price remains above the up-trend support line that has been proving to be topical since mid-May. The first resistance it is thus likely to encounter is the weekly R1 at 1.3613, but the pair is expected to advance at least up to the February high at 1.3711.
Traders' Sentiment
A small upside gap after the weekend did not alter the positioning of the SWFX market participants—the bearish traders remain in a distinct majority with 65%. The same stability is observed in the distribution between the buy (51%) and sell (49%) orders placed on EUR/USD.
© Dukascopy Bank SA