Technical Analysis EUR/USD steps lower
Technical Analysis EUR/USD for July 30, 2014
Pair’s Outlook
As expected, the Euro carried on losing its positions, though it did not break any significant levels yesterday. Right now the currency is facing the support created by the monthly S3 and weekly S1. Once they are out of the way, 1.33 is likely to become the next target. However, despite the ‘buy’ signals on a monthly time-frame, it seems the market will remain bearish until the price falls down to 1.28—2013 lows.
Traders’ Sentiment
There is still a tug of war between the bulls (56%) and bears (44%), and neither party has been able to take a leading role in the recent past. Meanwhile, there is a widening gap between the buy (37%) and sell (63%) orders placed on EUR/USD.
Source: Dukascopy
