© Dukascopy Bank SA
– Stefania Spezzati (Based on Bloomberg)
Pair's Outlook
EUR/USD surprised with a second consecutive green candle Tuesday morning, after posting a one percent gain on Monday. The pair is currently testing the weekly Pivot Point at 1.0646, but the general sentiment remains bearish inside of a descending channel pattern. It appears that a close below 1.0550, the November low has not been sustainable just yet and Tuesday's session could either post a small green candle or a decent red one. Movements to the downside will be cut by 1.0566, the bottom Bollinger Band.
Traders' Sentiment
Traders show less optimism among SWFX traders with 54% of positions being long, down from 57% on Monday, while pessimism reflects in pending orders with 63% of short positions.
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