© Dukascopy Bank SA
- Western Union Business Solutions (based on CNBC)
Pair's Outlook
Favourably for the bullish outlook the up-trend support line remains intact, pushing the price upwards as soon as EUR/USD gets clos. However, there is a formidable resistance area that does not allow these rallies to develop into long-term bullish movement. Accordingly, 1.3185/77 is a key to further appreciation of the Euro, first up to 1.3331, then to 1.3494.
Traders' Sentiment
The share of bullish traders has improved since the last report, but they still stay behind the bears that constitute a majority of the SWFX market—58%. At the same time the ratio between the market participants willing to acquire (49%) and sell (51%) the Euro against the U.S. Dollar is completely unchanged.
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