© Dukascopy Bank SA
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
Yesterday the U.S. Dollar was ubiquitously bearish and allowed EUR/USD to soar 150 pips. Now the currency pair faces a formidable resistance area that may hamper further advancement, being that it consists of the February high, monthly and R1 and, more importantly, of the rising trend-line that has been in force since Jul 10 and is likely to remain intact.
Traders' Sentiment
With the massive sell-off of the Dollar, the sentiment towards its currency pairs changed as well. While yesterday the greenback was acquired in 61% of cases across the market, now this percentage is at 65%, meaning that the popularity of the currency has notably increased over the last 24 hours.
© Dukascopy Bank SA