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- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Yesterday's rally did not live up to expectations and did not develop into a full-blown upward advancement towards 1.2936, but in turn resulted in a sharp fall. Nonetheless, the currency pair still preserves bullish potential, unless it dips below 1.2528/15. Then EUR/USD is likely to retarget 1.2344/26 and afterwards 1.2210/00, as long-term indicators point to the downside.
Traders' Sentiment
Despite the fact that long on EUR/USD SWFX marketplace traders outnumber short traders, the overall sentiment remains mixed, since the advantage of 2% is yet negligible. On the other hand, the latest tendency of bulls to lose in numbers persists, even though the single European currency stays as the most popular among its major peers.
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