© Dukascopy Bank SA
- Mizuho Corporate Bank (based on WSJ)
Pair's Outlook
A tough support located at 1.2509 has managed to repel attack of the price, but bearish bias persists and has not yet vanished, as indicated by MACD and five alternative studies. Current rally of EUR/USD should be limited by resistance areas situated at 1.2628/42 and at 1.2761/1.2828, implying the currency couple will refocus supports after encountering these zones.
Traders' Sentiment
According to SWFX marketplace participants' sentiment, the European currency is the most popular currency at the moment among its main counterparts. Consequently, majority (62%) of opened positions on EUR/USD is long, whereas 38% of them are currently short. However, the situation is reversed with respect to the orders placed, as only 32% of them are to acquire the Euro and the rest (68%) are to sell it.
© Dukascopy Bank SA