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- ING (based on Reuters)
Pair's Outlook
The currency pair is undergoing a bullish correction at the moment and therefore it is not expected to breach important resistances, such as the one at 1.3423/1.3396 that consists of the monthly S1 level and the 100-day SMA. Even if EUR/USD ascends above it, the August high, in conjunction with the up-trend line, should not let the price to rise higher. The support area around the 200-day SMA now seems to be the most likely target.
Traders' Sentiment
Being that the market has not been subjected to any significant changes lately, the sentiment of SWFX traders towards EUR/USD remains the same. Right now 51% of open positions are long and 49% are of them are short. A similar situation is observed among the orders, 51% of which are to sell the Euro.
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