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- Royal Bank of Scotland (based on Reuters)
Pair's Outlook
EUR/USD is pressed in a channel for more than a month, as the pair is traded between the 100-day at 1.3151 and the 55-day SMA at 1.3007. As the pair is traded flat so long, the both Bollinger bands also go flat and would create a substantial resistance or support in case of more volatile behaviour. Most probably the pair will leave the channel only when some important macro news are announced, which would help make more valuable assumptions about the ECB actions in the future.
Traders' Sentiment
SWFX marketplace participants maintain bearish exposure, since 62% of opened positions are short. Pending orders market is gently bullish, as 53% are placed to acquire the single European currency.
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