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- Credit Agricole (based on MarketWatch)
Pair's Outlook
A rally beyond the falling resistance line did not turn out to be sustainable, failing to reach the next notable level at 1.3117/1.3096 and closing back under the 200-day SMA and the trend-line. Accordingly, the bias towards the pair is negative, as it is now moving en route to 1.27, even though the price will have to cross supports at 1.2817/15 and 1.2765 prior to reaching its target.
Traders' Sentiment
Bulls continue to hold majority of positions on EUR/USD (52%), but their advantage over bears is minimal and therefore the overall sentiment towards the pair is neutral. On the other hand, the share of sell orders has grown considerably and now is 62% of the total amount.
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