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- Elliott Management Corp. (based on Bloomberg)
Pair's Outlook
The currency pair experienced little changes during past 24 hours, as the strong support line at 1.25 continued to hold the pair's bears from pushing the Euro further to the south. Yesterday, the cross even managed to gain some value and neared the weekly pivot point at 1.2586. However, concerning the overall bearish trend of the pair, it stayed below this level. Meanwhile, technical indicators on a daily chart are now sending aggregate signals to the downside.
Traders' Sentiment
The overall share of long positions continued to deteriorate, as now market is equally divided between bulls and bears. Pending orders in 100-pip range slipped as well, but 63% of them are still set to acquire the Euro versus the Greenback.
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