© Dukascopy Bank SA
– based on Brooks Price Action
Pair's Outlook
The common European currency erased everything regained against the US Dollar in July on Friday, as the currency exchange rate marked a monthly low at 1.1029. However, on Monday morning the pair started day's trading session higher at 1.1044, and it reached above the weekly PP at 1.1070 by ending Monday's trading session at 1.1075. On Tuesday morning the pair had not moved, as it was trading at 1.1075 by 5:00 GMT.
Traders' Sentiment
SWFX traders have not changed their bearish sentiment, as 53% of all open positions remain short on Tuesday. In the meantime, pending orders in the 100-pip range have slightly shifted to the bullish side, as 63% of pending orders are short, compared to 67% on Monday.
© Dukascopy Bank SA