© Dukascopy Bank SA
- UBS (based on CNBC)
Pair's Outlook
The currency pair stabilised just above 1.2274 and should soon make another attempt to breach this support, given that most of daily technical indicators give "sell" signals. Once the initial level is overcome, 1.2161 and 1.2106/1.2063 will become exposed, but will stand against bearish momentum en route towards a medium-term target at 1.1989.
Traders' Sentiment
Being that the common currency is the most popular among its peers, majority of traders on EUR/USD hold long positions (64%), whereas bearish market participants are in distinct minority, constituting 36% of the market. The ratio between buy and sell orders, on the other hand, is 41% to 59%, accordingly.
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