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- BMO Capital Markets (based on MarketWatch)
Pair's Outlook
As expected, EUR/USD stumbled ahead of the resistance at 1.3497 and plunged 50 pips before finding support at the area formed by the August high, 100-day SMA and the monthly S1. Once this demand zone is crossed, the currency pair is expected to aim for the 200-day SMA at 1.3240. There the long-term moving average merges with the monthly S2 and creates a formidable obstacle.
Traders' Sentiment
Since the previous report the gap between the shares of long and short positions has slightly increased, being that the former lost one percentage point and at the moment take up 48% of the market. Still, on the whole the sentiment is neutral with respect to EUR/USD.
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