© Dukascopy Bank SA
- Rabobank (based on CNBC)
Pair's Outlook
Despite a tough support situated at 1.2433, the currency pair continued to trade lower. At the moment EUR/USD is approaching a subsequent level at 1.2300, encounter with which will result in a short squeeze up to 1.2433. Nonetheless, as suggested by most of the indicators, the overall outlook for the price is negative, as it is currently moving in the direction of 1.1662.
Traders' Sentiment
Judging by the changes in SWFX sentiment index towards EUR/USD, most of market participants reckon the Euro has hit a bottom and is soon about to commence recovery. 61% of traders are bullish and 39% of them are bearish on the pair. On the other hand, 56% of orders placed on EUR/USD are to buy the Euro and 44% of them are to sell it against the U.S. Dollar.
© Dukascopy Bank SA