EUR/USD Daily Chart – Technical Analysis
Pair’s Outlook
The currency pair closed below the weekly S1, but seems to be already losing its downward momentum ahead of the main support at 1.3481/75. Moreover, less daily technical indicators are giving ‘sell’ signals than yesterday, meaning there might be temporary sideways trading before the Euro gathers courage to re-test the 2014 low. In the meantime, a spike up to the 200-day SMA also should not be ruled out.
Traders’ Sentiment
The sentiment towards EUR/USD remains neutral—53% of open positions are long and 47% are short. Concerning the orders placed, there is also no significant difference between the numbers of buy (46%) and sell (54%) ones.
Source: Dukascopy
