© Dukascopy Bank SA
- Finance Ministry (based on CNBC)
Pair's Outlook
Despite the proximity of supposed demand area, created by a combination of the 200-day SMA with the monthly R1, the currency pair remains largely unchanged, having trouble recovering the lost in the beginning of February bullish momentum. Additional supports are to be found at 1.3020/09 and 1.2971, but we would rather focus on resistances, the nearest notable of which is at 1.3172/64.
Traders' Sentiment
Due to the absence of pronounced inertia of the price in any direction lately, the relation of long positions (45%) to the short ones (55%) more or less stays put. The same situation is observed among pending orders, 46% of which are to buy the Euro and 54% are to sell it.
© Dukascopy Bank SA