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- Deutsche Bank (based on MarketWatch)
Pair's Outlook
On Thursday, the common currency rebounded slightly and partly erased losses that were gained back two days ago. EUR/USD cross has even tried to push itself above the weekly pivot point 1.1332 but all attempts turned to be unsuccessful. Therefore, the daily closing level was located at 1.1319, 13 pips below the mentioned resistance. It is likely that the Euro will make a second attempt to penetrate this level today, even despite bearish technical studies.
Traders' Sentiment
Distribution between long and short opened positions on EUR/USD pair is remaining unchanged for a fourth consecutive day at 49% vs 51%, correspondingly. At the same time, commands to acquire the Euro in 100-pip range returned to Tuesday's level of 31%.
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