© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The common European currency slightly depreciated against the US Dollar, as the currency exchange rate moved fell from 1.1173 at the start of day's trading to end trading at 1.1160. On Tuesday morning the pair has regained those losses and even surged above the previous open, as the rate was at 1.1178 by 5:00 GMT. The Euro faces no resistance in its surge against the Greenback until the level of 1.1236, where the 100-day SMA is located. However, the upper Bollinger band at 1.1206 might hinder the pairs gaining momentum.
Traders' Sentiment
SWFX traders have increased their bearish sentiment on Tuesday, as 64% of open positions are short on Tuesday. In the meantime, pending orders for the pair are 47% long.
© Dukascopy Bank SA