© Dukascopy Bank SA
- Royal Bank of Scotland Group Plc. (based on Bloomberg)
Pair's Outlook
After touching the previous week's high at 1.1392, the EUR/USD currency pair was sent considerably to the downside. The Euro is now declining for a third consecutive day on Monday, with trading levels located below 1.1150. Despite that, the price is still remaining above the 20-day SMA at 1.1044 and Mar 26 high at 1.1052. While the pair is hovering above these two supports, there is a good chance of recovery in the near-term.
Traders' Sentiment
Bulls are currently in the minority with only 44% of all opened positions at the SWFX market. At the same time, pending orders to buy the Euro currency against the US Dollar in 100-pip range from the spot added 1% over the weekend to stay at 49% this morning.
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