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- Citygroup Inc. (based on Bloomberg)
Pair's Outlook
The common European currency is traded in a narrow range between the Bollinger band at 1.3192 and the weekly R2 at 1.3168. The pair does not demonstrate high volatility, as investors are focused on today's ECB meeting, where the executive board will talk about additional measures to boost a struggling Europe's economy. The news should bring more action into the market, therefore the closest support is at 1.3069 and resistance at 1.3243, where the weekly R3 is located.
Traders' Sentiment
Distribution of opened positions in SWFX marketplace remains the same as yesterday, as bears settle a minor advantage and have a 57% share. Pending orders market is gently bearish with 55% of sell orders.
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