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- Pimco (based on CNBC)
Pair's Outlook
Most traded currency cross on the FX market rebounded considerably on Tuesday, as the Euro surged above the monthly PP. Moreover, it has even breached the weekly R1 but closed below it at 1.2510, being that this supply zone is reinforced by 55-day SMA, Bollinger band and the monthly R1. Nevertheless, right now we would assume the EUR/USD pair to trade between 1.2470 and 1.2550 in the short-term, while daily indicators still remain neutral.
Traders' Sentiment
Distribution between long and short opened positions stayed unchanged from yesterday, as former still take 42% of them. Pending orders in 100-pip range slipped down, as now only 40% of traders are planning to acquire the Euro versus the Buck.
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