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- Spiro Sovereign Strategy (based on The New York Times)
Pair's Outlook
Euro-greenback cross plummeted through quite a few strong technical level, one of them being uptrend support, lost 140 pips in the process and is approaching weekly S3/55-day SMA at the moment. Bears might capitalize on their gains around 1.35 which could send some bullish signals in the medium and long term, but we believe we will continue to see similar bearishness in the nearest future as well.
Traders' Sentiment
Market sentiment it self haven't changed a bit for the past few days as distribution of open positions remains at 63% being held by short traders. Pending orders are perfectly evenly distributed between the long and short traders.
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