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- Bank of America Merrill Lynch (based on MarketWatch)
Pair's Outlook
EUR/USD registered completely no changes in its value on Tuesday as compared to Monday's closing level. The pair traded around 1.1320 for the most part of the day, even though the overall trading range was located between 1.1270 and 1.1350. Still, daily technical indicators continue pointing to the south, meaning that the bearish scenario is more likely than the bullish one. Therefore, when the US Dollar gets enough impetus, it may push the pair down to 1.1225 in the near term (weekly S1).
Traders' Sentiment
Bullish opened positions at the SWFX market continue to hover just below 50%, with as many as 47% of them registered in the morning on Wednesday.
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