© Dukascopy Bank SA
- Deutsche Bank AG (based on Bloomberg)
Pair's Outlook
EUR/USD is currently held by the support at 1.3046/30, a confluence of the 55 and 200-day SMAs along with the monthly R1. However, the market does not seem to be willing to increase bullish towards the Euro exposure and the rally therefore is shallow and unable to the initial resistance at 1.3067. Still, as soon as it is overcome, there will be resistance-free area of 100 pips.
Traders' Sentiment
The distribution between the long (44%) and short (56%) positions is largely unchanged on EUR/USD, as the price hesitates to move in any particular direction and the market thus remains undecided. The difference between the amounts of buy (47%) and sell (53%) orders in even smaller.
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