- Standard & Poor's (based on Bloomberg)
The immediate resistance is at 1.14, represented by the upper and monthly R1. The base scenario is EUR/USD bouncing off this level, but we should not rule out a possibility of a rally to the September high, especially considering that the weekly technical indicators continue to give more ‘buy' signals than ‘sell' ones. Meanwhile, most of the monthly studies are , meaning in the long run we are likely to see a re-test of the major rising support line, which currently is at 1.11 dollars.
The gap between the bulls and bears widens. The difference in favour of the latter increased up to eight percentage points. On the other hand, the share of buy orders rose from 58 to 61%.