© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
EUR/USD has strongly bounced off a support area at 1.2456/16 and has already tested an interim resistance located at 1.2566/99. An initial attempt to penetrate it, however, proved to be unsuccessful, as the currency pair faces a lot of formidable levels, which are unlikely to allow the price to reverse the trend, only to make a short-term bullish correction.
Traders' Sentiment
Since the 17-nation currency remains the most popular among its major peers in SWFX marketplace, the share of long positions on EUR/USD has increased up to 59%, whereas short ones constitute 41% of the market at the moment. As for the orders, 52% of them are to buy the Euro and 48% of them are to sell it against the U.S. Dollar.
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