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- RBC Capital Markets (based on MarketWatch)
Pair's Outlook
Friday bearishness of EUR/USD has been halted by support at 1.2106. Although, given that majority of technical indicators continue to point to the downside, this level is likely to give in and thus pave the way towards 1.2051 and 1.2012/1.1976. In case of strong recovery the pair will encounter resistances at 1.2187 and 1.2262.
Traders' Sentiment
The single European currency is the most frequently bought in SWFX marketplace, namely in 73% of cases. Accordingly, most of market participants (63%) have preferred to open long positions on EUR/USD, expecting the Euro to appreciate relative to the greenback. However, sell orders (64%) considerably exceed buy orders (36%).
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