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EUR/USD Stays Motionless

'We've kind of traded sideways a little bit. It's largely technical, but there's some geopolitical headlines that may be weighing on risk appetite.' - Commonwealth Foreign Exchange (based on Bloomberg)

Pair's Outlook

There are still no consistency among the technical indicators, as they are pointing in different directions on the weekly an monthly time-frames. Nevertheless, the currency pair is considered to be capable of rising up to 1.37 before coming under selling pressure and subsequently re-challenging a key support level at 1.35, which is reinforced by the monthly S1 and 2014 low. A breach of the latter level may potentially open a way towards 1.28—2013 lows.

Traders' Sentiment

The bears are starting to gain an upper hand over their counterparts, as the former now constitute 56% of the market (54% yesterday). As for the orders, 63% are set to sell the Euro against the greenback.