© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
Being that yesterday the currency pair failed to pass through the key resistance at 1.3777, some of the weekly technical indicators turned bearish, meaning that a possibility of a rally is currently decreasing. The nearest support is at 1.3711, but it is unlikely to reignite strong upward momentum, instead we would rather focus on the 100 and 200-day moving averages as the medium-term targets.
Traders' Sentiment
Despite a change in the pair's trend the sentiment of the market towards EUR/USD remains perfectly unchanged—41% of open positions are long and the majority (59%) of them are short. Concerning the orders, 45% are to buy and 55% are to sell the Euro against the U.S. Dollar.
© Dukascopy Bank SA