Technical Analysis EUR/USD is a step away from 1.33
Technical Analysis EUR/USD for August 07, 2014
Pair’s Outlook
Initially EUR/USD dipped down to 1.3333, but afterwards managed to climb back to the weekly S1. Still, the selling pressure is likely to persist at least until the currency pair falls down to 1.33, the key support represented by the 2013 Q4 low. Here the Euro may commence a recovery, but the outlook should remain bearish, provided that the resistance at 1.35 (down-trend and monthly PP) stays intact.
Traders’ Sentiment
The bulls (55%) sustain a fractional advantage over the bears (45%), but the sentiment can become neutral or even bearish fairly quickly. In the meantime, the share of the buy orders dropped from 53% down to 39%.
Source: Dukascopy
