Technical Analysis EUR/USD pushed back to 1.36
Technical Analysis EUR/USD for July 11, 2014
Pair’s Outlook
EUR/USD failed to sustain a rally through the monthly PP and 55-day SMA yesterday. After topping out at 1.3650 the currency pair retreated, showing a lack of bullish momentum. But there are also serious obstacles in the South, such as a long-term up-trend at 1.3563/47 and support line at 1.35, which are unlikely to let the price fluctuate freely. Both these levels have to be breached for the Euro to confirm its bearish intentions.
Traders’ Sentiment
Neither bulls nor bears are able to gain any meaningful advantage over the other party. At the moment the former take up 47% of the market and the latter—53% of it. A similar situation is observed with the orders—46% to buy and 54% to sell the Euro.
Source: Dukascopy
