EUR/USD hovers below resistance at 1.25

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There are many indicators that tell us interest rates are too low."
- Philadelphia Fed President Charles Plosser (based on CNBC)

Pair's Outlook
After a confirmation of the resistance line at 1.25, the EUR/USD pair returned back below this level and is trading there for a second consecutive day. Concerning the fact that today there are no bullish signals on a daily chart at all, a movement above 1.25 is unlikely in the foreseeable future. If the cross succeeds in crossing the weekly pivot point at 1.2465, then it will be in a good position to decline down to monthly S1 at 1.2376.

Traders' Sentiment
Distribution between long and short opened positions experienced no changes during last 24 hours. Still, 54% of traders are betting on the Euro's advance. Pending orders improved as well, as now they are neutral in both trading ranges.

© Dukascopy Bank SA
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