© Dukascopy Bank SA
- Mainfirst Bank AG (based on Bloomberg)
Pair's Outlook
Strong expectations for successful QE from the side of the ECB had a major bearish impact on EUR/USD pair last Friday. The pair erased on of the most important supports at 1.0943 (monthly S2) and deteriorated below the 1.0850 mark. As a result, a daily decline amounted to around 200 pips. The next demand area is already represented by the 2003 low (1.0759); however, some rebound may follow shortly after a development before the weekend.
Traders' Sentiment
Bullish opened positions at the SWFX market are accounting for 52% in the beginning of a new week. SWFX traders are on the negative territory in terms of pending orders, as ones to buy the Euro against the US Dollar in 100-pip range from the spot fell to just 32%.
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