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- Credit Agricole (based on MarketWatch)
Pair's Outlook
EUR/USD has stopped falling ahead of 1.2463 and is currently trying to commence a bullish correction, given the signals provided by daily technical indicators. However, in the medium to long run, the currency pair is viewed as bearish, trading within a downtrend channel. Therefore the Euro is supposed to continue depreciating relative to the U.S. Dollar while negating short-term rallies.
Traders' Sentiment
The gap between market participants who are holding long and short positions on EUR/USD has narrowed to 4%, as the share of bulls in the market is 52%, while bears constitute 48% of all the open trades. At the same time the single European currency preserves its status as the most popular among traders, as it is being acquired in 72% of cases.
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