© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The Euro depreciated on Tuesday against the US Dollar, as the currency exchange rate fell below the weekly PP at 1.1070, while it opened Tuesday's trading session at 1.1075 and ended the day at 1.1019. On Wednesday morning, the pair has slightly moved lower, as it started day's trading at yesterday's closing level of 1.1019 and has moved to 1.1015 by 5:00 GMT. Below the rate is located the weekly S1 at 1.0975, which might be reached, as daily aggregate technical indicators forecast a downwards movement for the pair today.
Traders' Sentiment
SWFX trader combined sentiment has become neutral, as 50% of open positions are long. In the meantime, pending orders in the 100-pip range are 65% short.
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