© Dukascopy Bank SA
- based on Bloomberg
Pair's Outlook
The Euro surged on Wednesday morning against the Greenback, as the currency exchange rate erased the losses of previous sessions and attempted to break the resistance cluster, which pressured it lower before. Previously, on Tuesday the currency pair fell to the 1.1138 level, but it managed to change its direction mid-session and end the day at 1.1203. As in that fall the rate touched the channel up pattern's lower trend line and rebounded, it is most likely that today's surge will continue.
Traders' Sentiment
SWFX traders have increased their bullish positions by one percentage point to 44%, compared to yesterday's 43%. In the meantime, pending commands are also bearish, as 62% of set up orders are to sell.
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