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- Crossbridge Capital (based on Bloomberg)
Pair's Outlook
On the first day of this working week, the EUR/USD cross decided to stay pretty much unchanged, as it continued to trade in the vicinity of the monthly S2 and 2014 low around 1.2220. It should be noticed that these two lines may play a role of the sustainable support in order to push the pair higher. This scenario has a chance to become a reality, as the closest resistance is located only at 1.2340. Despite that, short-term technical studies remain mixed.
Traders' Sentiment
Distribution between bullish and bearish opened positions consolidated above 50%, as long positions are now accounting for 53% of all trades (51% yesterday). Additionally, long pending orders in 100-pip range decreased to 39%, the level seen on Friday.
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