© Dukascopy Bank SA
- Dekabank (based on Bloomberg)
Pair's Outlook
EUR/USD currency cross decided to trade in the narrow range between 1.2430 and 1.2475 for a fourth consecutive day. Yesterday, the pair gained some value to return back above the weekly pivot point, which is located at 1.2465. It seems that the pair lacks momentum from both bullish and bearish sides and the pair is preparing for important fundamental data on Friday. Technical indicators, in turn, became more positive on a weekly time-frame.
Traders' Sentiment
Distribution between long and short positions remains perfectly unchanged at 54% and 46%, respectively, for a fourth day in a row. Pending orders stay negative as before, with 57% of them set to sell the Euro versus Greenback in 100-pip range from the spot price.
© Dukascopy Bank SA