© Dukascopy Bank SA
- Saxo Capital Markets (based on Reuters)
Pair's Outlook
A combination of the monthly S1 and the 100-day SMA did not prove to be as strong as initially estimated—EUR/USD is already probing the August high at 1.3451. Nevertheless, the currency pair is still expected to turn around between this level and 1.3497, the current location of the up-trend resistance line, and fall down to the long-term moving average at 1.3231.
Traders' Sentiment
The market remains undecided with respect to EUR/USD—equal numbers of traders are in favour (51%) and against (49%) the appreciation of the common currency against the U.S. Dollar. The amounts of buy and sell orders are also nearly the same—48% and 52% respectively.
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