© Dukascopy Bank
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
The currency couple is presently undergoing a bullish correction following its precipitous fall from a downtrend resistance at 1.3252. EUR/USD may attempt to test 1.2903/17, but is unlikely to extend gains above this level, which, in turn, will lead to continuation of a bearish move towards 1.2509, en route to a long term target at 1.18.
Traders' Sentiment
According to SWFX Sentiment index, the ratio of bullish market participants to bearish ones remains nearly the same, being 62% to 38%, indicating no change in the share of positions. At the same time the Euro keeps title its as the most popular currency, being preferred to the rest of major currencies in the market.
© Dukascopy Bank