© Dukascopy Bank SA
- NICB Bank NV (based on Bloomberg)
Pair's Outlook
EUR/USD currency pair appreciated during the last trading day of the previous week, as it approached a considerable resistance line, represented by the monthly pivot point at 1.2468. We do not expect the cross to breach this important level, which is likely to push the Euro downwards. Technical indicators, in turn, predict the pair will hover around the current levels for the next 24 hours, even though suggesting a decline in the medium-term.
Traders' Sentiment
Comparing today's market sentiment to Friday's one, the number of long opened positions on EUR/USD decreased further to 46%, losing one percentage point. Pending orders in 100-pip range, however, improved to be positive in 48% of all cases.
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