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- Bright Stream Capital Management (based on Bloomberg)
Pair's Outlook
EUR/USD tested the nearest demand area around 1.0950 yesterday. As a result, the last week's/Jun lows have been eroded, confirming the pair's intentions to depreciate further. However, the Euro failed to close below these levels by bouncing back above 1.10 by the end of trading. Nonetheless, the outlook remains moderately bearish, and the 100-day SMA at 1.1031 may force EUR/USD to make another attempt to penetrate the zone between 1.09 and 1.0950.
Traders' Sentiment
The share of SWFX long open trades added two percentage points from yesterday and surpassed the 50% threshold to reach 51% by Wednesday morning.
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