© Dukascopy Bank SA
- Foreign Exchange Inc. (based on Bloomberg)
Pair's Outlook
Although EUR/USD remained bullish longer than initially expected, the currency pair has finally fallen through the nearest supports and is set to decline even further. The next important target should be 1.3522/01, where the monthly pivot point is reinforced by the 100-day SMA. Meanwhile, 1.3711/1.3677 (monthly R1 and Feb high) is now likely to act as a ceiling.
Traders' Sentiment
Despite a substantial change in the price of the single European currency, the positioning of the SWFX market participants was not subject to notable changes. The share of longs is 39% (40% yesterday) and the share of shorts is 61%. The percentage of buy orders, on the other hand, surged from 54% to 64%.
© Dukascopy Bank SA