EUR/USD is approaching 1.2585/90

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There's a bit of short-covering in the euro for now, in case there are any new measures coming out from the euro zone. But it's still a sell on rallies"
- Forecast Pte (based on Bloomberg)

Pair's Outlook
Following an encounter with a downtrend support at 1.2333, EUR/USD has commenced recovery and is currently heading towards 1.2585/90, where the rally is likely to be halted. Additional resistances may be found at 1.2660 and at 1.2773. Given the overall negative outlook for the currency pair, we should observe reignition of bearish sentiment once 1.2585/90 is reached.

Traders' Sentiment
The amounts of bullish and bearish towards EUR/USD currency couple SWFX marketplace liquidity consumers is nearly equal, being 52% and 48% of the market, respectively, even though the 17-nation currency remains as the most popular among its major counterparts, as it has been bought in 74% of cases and sold only 26% of the time.

© Dukascopy Bank SA
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