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- Global Hunter Securities (based on MarketWatch)
Pair's Outlook
Despite a good attempt of bulls to push EUR/USD higher, a resistance area at 1.2587/1.2619 did not allow it to succeed at gaining even more ground, forcing the pair to retreat below 1.2543/58. The next supports the price is likely to encounter are located at 1.2507/49 and 1.2386, but these levels are not viewed as capable of halting bearish momentum that is expected to develop.
Traders' Sentiment
Bullish towards EUR/USD traders' sentiment did not last for long, turning back to being bearish after only one day. Presently 46% of market participants hold long positions and 54% of them hold short ones on the pair. As for the orders, 51% of them are to buy the Euro and 49% are to sell it against the greenback.
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