Technical Analysis EUR/USD to stay below 1.35
Technical Analysis EUR/USD for Tuesday, July 29, 2014
Pair’s Outlook
Right now this week appears to be quiet in terms of volatility, but this should change before the weekend. In any case, the currency pair is expected to be capped by 1.3530/00. Accordingly, the bias is negative. For the outlook to be changed to bullish, the bears have to give up the major down-trend line at 1.3850, which seems to be unlikely given the current conditions. Right now the support at 1.3385/69 is in more danger.
Traders’ Sentiment
Neither bulls (55%) nor bears (45%) are able to take control of the market, and the difference between them remains insignificant. Meanwhile, a large advantage of sell orders over the buy ones declined, namely from 30 to 14 percentage points.
Source: Dukascopy
