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- Markit (based on Bloomberg)
Pair's Outlook
EUR/USD cross was pretty much unchanged during the first day of the new week, even though it managed to rise above the significant resistance line, represented by the monthly pivot point at 1.2468. Eventually, the pair returned back to trade below this level. We assume this resistance to be rather strong for EUR/USD's bulls to cross it; therefore, we expect a gradual decline of the pair in the foreseeable future.
Traders' Sentiment
Market sentiment on EUR/USD pair deteriorated even more, as right now 42% of all opened positions stay long on the Euro. Bullish pending orders in 100-pip range, however, registered almost no changes, as they remained on the negative territory with 49%.
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