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- Alpari (based on Investing.com)
Pair's Outlook
The European currency was volatile during Monday's trading session, as it fluctuated between the levels of 1.1302 and 1.1383 against the US Dollar. However, in general the currency exchange rate ended Monday's trading session lower at 1.1310, than it had started the session at 1.1329. On Tuesday morning the pair surged, and it was trading at 1.1335 by 5:00 GMT. The exchange rate is approaching the weekly R1 at 1.3403, and if it passes it, then the rate will move towards the 1.1408 level of R2. From the downside, the pair is supported by the 55-day SMA at 1.1305.
Traders' Sentiment
SWFX traders have not changed their sentiment towards the EUR/USD pair since yesterday, as 53% of open positions are bearish, and pending orders in the 100-pip range are also unchanged at 62% long.
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