© Dukascopy Bank SA
Miller Tabak & Co. (based on CNBC)
Pair's Outlook
After two weeks of depreciation, the single European currency takes a break, as its price jumped from a 1.28 benchmark on Monday. The pair demonstrates moderate bullish sentiments and attempts to gain towards the monthly S1 and weekly pivot point at 1.2895/85. However, EUR/USD still contains a high probability to drop even lower, as on Friday it made a spike through a 1.28 level, but has not settled beneath it.
Traders' Sentiment
SWFX marketplace is bearish on Monday morning, since there are 52% of short opened positions. Placed orders segment is also bearish, since 51% of waiting orders are ready to sell the Euro against the U.S. Dollar.
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