© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The common European currency remained flat on Wednesday morning against the Greenback. The currency pair did not even fluctuated, as it stayed below the resistance put up by the second monthly support level at 1.0632. Previously, on Tuesday the rate remained flat by moving only a few pips lower by the end of the session. However, the pair did experience volatility in the range from 1.0582 and 1.0658. Although, in accordance with most technicals, the rate is set to fall by the end of the day.
Traders' Sentiment
SWFX traders remain bullish on the pair, as 56% of open positions were long on Wednesday. Meanwhile, trader set up orders remain as bearish as on Tuesday, as 62% of pending commands were to sell the Euro.
© Dukascopy Bank SA