© Dukascopy Bank SA
- a U.S.-based currency trader (based on CNBC)
Pair's Outlook
Although Bernanke's comments goaded many investors into selling the U.S. Dollar, thus greatly benefiting the value of the Euro, the resistance at 1.3561/42 seems to be holding off the rally for now. At the same time the technical indicators on a daily time-frame mostly remain bearish, though because of the currency pair's recent bullish behaviour their credibility is endangered.
Traders' Sentiment
Preferences of the SWFX market participants keep on shifting in favour of the U.S. Dollar. On average in its pairs the currency has been bought in 59% of cases (56% yesterday). The same tendency is observed in EUR/USD, where the share of short positions increased from 56% to 57%.
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