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- Jose Wynne, Barclays Capital (based on CNBC)
Pair's Outlook
The Euro has been strengthening for the last five trading days and seems to be capable of additional appreciation, given that most of daily indicators are bullish for EUR/USD. Accordingly, the currency pair may advance up to 1.2936/99 in the medium tem, but should be capped by this area in a longer term perspective. Supports, on the other hand, are situated at 1.2660/31 and at 1.2532/15.
Traders' Sentiment
Distribution of opened positions among longs and shorts is equal on EUR/USD, as each of the types constitutes 50% of the market, even though the 17-nation currency is the most popular relative to its major counterparts. The similar situation is observed with orders placed on the pair, since the amounts of buy and sell orders are the same.
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