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- Mizuho Securities Co. (based on Bloomberg)
Pair's Outlook
A cluster of resistances at 1.2556/1.2633 has stopped advancement of the currency pair and forced it to back off. However, EUR/USD might attempt to challenge resistance once again, since it did not confirm bearish bias by breaching the nearest support - an uptrend line at 1.2492/63, below which lies 1.2391/48 (55 day SMA). On the other hand, indicators give mixed signals.
Traders' Sentiment
SWFX traders' sentiment remains unchanged since the last week, as long positions continue to constitute 43% of the market and short positions - 57% of it. Additionally, sell orders are in majority (53%) as well, although their advantage over buy orders (47%) is not yet distinct.
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