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- Bank of Tokyo-Mitsubishi UFJ (based on WSJ)
Pair's Outlook
Rally from a support at 1.2324 was not sustained for a prolonged period of time, as bullish momentum is gradually fading away ahead of a tough resistance zone at 1.2570/85, which in turn is followed by notable levels at 1.2660 and 1.2773, while a key medium-term resistance is situated at 1.2908/22. An interim support, on the other hand, may be found at 1.2436.
Traders' Sentiment
Despite the single European currency being the most frequently (74%) bought in SWFX marketplace, the sentiment of traders remains mixed towards EUR/USD currency pair in particular. The portion of long positions is 51%, whereas short trades constitute 49% of the market.
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