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- CMC Markets (based on WBP Online)
Pair's Outlook
On Wednesday, EUR/USD has mostly repeated the scenario of Tuesday's development. The Euro attempted to jump above 2003 low/20-day SMA, but failed eventually and returned back towards weekly PP at 1.0724. For now the pair is trading just below this mark, and in case it falls beyond 1.07, then the probability of even stronger slump will increase significantly. The medium-term target is still located at 1.06, while technicals are pointing downwards.
Traders' Sentiment
The total number of bullish opened positions at the SWFX market remained unchanged during past 24 hours at 49%. Pending orders to buy the Euro against the US Dollar in 100-pip range from the spot decreased to 37% from yesterday, down five percentage points.
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