Technical Analysis EUR/USD recovers
Technical Analysis EUR/USD for July 9, 2014
Pair’s Outlook
The Euro is currently undergoing a correction after a July decline. This rally should be stopped at 1.3641/16, where the monthly pivot point merges with the 55-day SMA. Additional resistances are at 1.3695/81 and 1.3721 represented by the 200 and 100-day SMAs respectively. Still, it is more likely for the pair to preserve an overall bearish momentum and eventually hit this year’s low at 1.3475, following a breach of the monthly S1.
Traders’ Sentiment
The gap between the numbers of bullish and bearish traders stays minimal—only eight percentage points, meaning the sentiment is neutral. As for the orders, 50 pips from the spot the sell ones are in a majority with 65% of the total amount.
Source: Dukascopy
