Note: This section contains information in English only."Euro-area manufacturing expanded last month at the fastest rate since April 2011, in a sign that the currency bloc's recovery is intact heading into 2017."
– Paul Gordon (Based on Bloomberg)
Pair's Outlook
[ANNOUNCE]EUR/USD took up where it had left off, posting a small green candle during the morning session.[/ANNOUNCE] The pair has re-entered the previously broken channel down, but it still holds little power as the re-entry is just part of the pair's movement inside the ascending channel that has taken over in order to guide the pair to the northern trend-line of the ultimately senior descending channel. Immediate resistance lies at 1.0443, the upper boundary of the irrelevant channel, while demand lies at 1.0389, the bottom line of the ascending channel.
Traders' Sentiment
SWFX traders remain long on the pair, as 59% of open positions are long. Meanwhile, 64% of set up orders are to sell the Euro.
Wed, 04 Jan 2017 09:30:19 GMT
Source: Dukascopy Bank SA
– Paul Gordon (Based on Bloomberg)
Pair's Outlook
[ANNOUNCE]EUR/USD took up where it had left off, posting a small green candle during the morning session.[/ANNOUNCE] The pair has re-entered the previously broken channel down, but it still holds little power as the re-entry is just part of the pair's movement inside the ascending channel that has taken over in order to guide the pair to the northern trend-line of the ultimately senior descending channel. Immediate resistance lies at 1.0443, the upper boundary of the irrelevant channel, while demand lies at 1.0389, the bottom line of the ascending channel.
Traders' Sentiment
SWFX traders remain long on the pair, as 59% of open positions are long. Meanwhile, 64% of set up orders are to sell the Euro.