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- Mitsui Trust Bank (based on CNBC)
Pair's Outlook
EUR/USD has spiked up to 1.2406/47 yesterday, but was unable to close above resistance at 1.2337/64, which in turn has set in motion bearish tendency, resulting in a support level at 1.2244/22 being breached. Indicators on a weekly timeframe predicate continuation of a downward move, accordingly, the pair is likely to preserve current momentum at least until 1.2099/80.
Traders' Sentiment
Sentiment of SWFX marketplace participants is becoming more bearish towards EUR/USD, since the share of short positions on the pair has increased up to 53% and the Euro seized to be the most popular currency. At the moment the greenback is the most frequently acquired currency among its major counterparts, being bought in 58% of trades.
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