© Dukascopy Bank SA
- Forex.com (based on MarketWatch)
Pair's Outlook
EUR/USD has temporarily stopped near yesterday's support at 1.2240, but should continue sliding downwards, as suggested by most of indicators for all three time frames. The closest support at the moment lies at 1.2200 and guards subsequent levels at 1.2128/06 and 1.1986/26, where we are likely to see a more pronounced rebound.
Traders' Sentiment
Step by step the portion of long positions on EUR/USD is increasing, already reaching 62% of the market. Short positions are in distinct minority, as the Euro is the most popular currency at the moment, being acquired in 74% of cases. Buy orders, on the other hand, constitute only 41% of the total amount, implying that most of market participants do expect a rally, but a rather shallow one.
© Dukascopy Bank SA