© Dukascopy Bank SA
- National Alliance Securities (based on MarketWatch)
Pair's Outlook
EUR/USD has once again run into a strong resistance at 1.2556/1.2633, but still appears to be unable to overcome it. Therefore we expect a bearish scenario to unfold from here, since a major downtrend resistance line should continue to contain the pair and prevent further appreciation of the single European currency.
Traders' Sentiment
While the U.S. Dollar remains the most popular in the SWFX marketplace, being acquired in 64% of cases, the share of bullish towards EUR/USD traders is diminishing and is 40% at the moment. Accordingly, bearish market participants expand their dominance and already constitute 60% of the market.
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