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- Oppenheimer Currency Opportunities Fund (based on MarketWatch)
Pair's Outlook
Even though the long-term bias with respect to the currency pair remains bearish, for the time being EUR/USD does not seem to be willing to descend beneath one of the key supports at 1.3451/23. This area consists of the August high, 100-day SMA and the monthly S1, but is nevertheless expected to be breached, thereby paving the way towards another important support at 1.3285/25.
Traders' Sentiment
The attitude of the SWFX market participants is gradually worsening towards EUR/USD. At the moment the difference between the amounts of long (47%) and the short (53%) positions is far from critical, but it is nonetheless increasing, being that the overall popularity of the Euro is diminishing and the level of Dollar's popularity is on the rise.
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