© Dukascopy Bank SA
- BNP Paribas (based on Reuters)
Pair's Outlook
EUR/USD stays trapped between the resistance at 1.3559 and the support at 1.3475/23—neither of these levels the currency pair is currently able to breach. However, eventually one of them is going to be eroded and, given that the Euro bounced off the major down-trend resistance line in late October, the risks are considered to be heavily skewed to the downside.
Traders' Sentiment
Compared to the distribution between the bulls and bears yesterday, today the gap is slightly wider, being that the share of long positions increased to 57%. As for the orders, the difference between the buy (51%) and sell (49%) ones is minimal—merely two percentage points.
© Dukascopy Bank SA