© Dukascopy Bank SA
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
Despite the presence of the rising resistance line and the 55-day SMA the currency pair does not cease to tend upwards. Yesterday EUR/USD touched upon 1.3556/42, but is nonetheless expected to soon commence a decline, as implied by the daily studies. Then the demand area at 1.3451/23 will have to come into play, but should allow for an extension of a dip.
Traders' Sentiment
According to the positioning of the SWFX market participants the level of Euro's attractiveness continues to decline. Respectively, the difference between the open long and short on EUR/USD positions is growing—the share of the bulls has fallen from 47% down to 44% within the last 24 hours.
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