© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
The single European currency carries on advancing and is already in the vicinity of the key resistance at 1.3862/25. This area, consisting of the monthly R2 and, more importantly, the five-year-old down-trend line, is expected to keep the Euro away from 1.40, even though the weekly studies imply that EUR/USD still retains some bullish potential.
Traders' Sentiment
The sentiment of the SWFX traders is unchanged towards EUR/USD, being that the share of long positions is 37% and the share of the short ones is 63%, just as yesterday. As for the orders placed on the currency pair, 53.5% of them are to acquire the Euro and 46.5% to acquire the U.S. Dollar.
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