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- BNP Paribas (based on Reuters)
Pair's Outlook
It seems that pair has received a bullish impetus and is planning to resume its last weeks rally after a bearish correction which took place in the first part of this week. It seems that pair wont gain much of a momentum as 1.337 should be tough task for the euro bulls. In addition, as of lately, pair does not seem to be able to breach the boundaries of the Bollinger band which is right above it.
Traders' Sentiment
Market participants are continuing to perceive the euro as the weaker currency in the pair as 67% of them have sold it versus the greenback. Although majority of market participants have posted orders to go long they are in majority only marginally—53% versus 47% to ho short.
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