Technical Analysis EUR/USD gains toehold above monthly PP
Technical Analysis EUR/USD July 10, 2014
Pair’s Outlook
A group of resistances that gathered around the monthly pivot point at 1.3630 failed to prevent appreciation of the Euro against the U.S. Dollar. The currency now appears to be in a good condition to advance further north, towards the 100 and 200-day SMAs. Nevertheless, the pair will be expected to turn around at 1.37 and then test a 24-month up-trend line at 1.3563/47, which currently guards the support line at 1.35.
Traders’ Sentiment
The bears keep a slight advantage over the bulls, but for now the difference if far from being significant—only 12 percentage points. As for the orders, the share of the buy ones has surged from 41% to 52% since the previous report.
Source: Dukascopy
