© Dukascopy Bank SA
- Market strategist at IG (based on MarketWatch)
Pair's Outlook
EUR/USD continued to show a strong upward development during the trading session back on Wednesday, as it managed to rise through the weekly R1 and monthly PP to reach the December's high at 1.2494. Taking into account the present neutrality of daily technical indicators, a sharp consolidation of the pair is unlikely, while in the medium-term the bearish outlook still remains in place.
Traders' Sentiment
During last 24 hours, sentiment on the EUR/USD cross declined slightly, while now 47% of all opened positions are long, compared to 50% yesterday. Pending orders in 100-pip range from the current market price, however, remained completely unchanged, with 42% of them still set to buy the Euro versus Greenback.
© Dukascopy Bank SA