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- Commonwealth Foreign Exchange Inc. (based on Bloomberg)
Pair's Outlook
On Friday the volume of trading fell to the lowest level since March 28, while the Euro is getting ready for the ECB meeting later in the new week. Fluctuations of the EUR/USD pair are insignificant, with major caps provided by the 1.13 mark and the weekly pivot point above at 1.1327. From the downside, EUR/USD will see rising demand near 1.12 where the monthly pivot is boosted by the weekly S1 and the 55-day SMA. As for the daily technical indicators, they are also mixed on the matter right now.
Traders' Sentiment
42% of all SWFX positions are bullish in the morning on Monday, no change for a fourth trading day in a row. As for pending orders, they are 53% and 55% short in 50 and 100-pip ranges from the spot price, respectively.
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