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- Koichi Takamatsu, Nomura Securities (based on Reuters)
Pair's Outlook
As expected, EUR/USD did not rise above the three-week down-trend resistance at 1.3390/80, instead it declined down to 1.3345/40. Considering that the market on the whole is bearish, the latter level is supposed to be broken to the downside, which in turn would expose the 2013 Q4 low at 1.33. Overall, as long as the falling trend-line at 1.35 is intact, the currency pair is likely to target 1.31, namely the 2013 September low.
Traders' Sentiment
There is currently no significant difference neither between the bullish (54%) and bearish (46%) market participants nor between the buy and sell orders placed 50 (50 and 50%) and 100 (48 and 52%) pips from the spot price.
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