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- strategist at Mizuho Bank Ltd. (based on Bloomberg)
Pair's Outlook
Despite falling for a sixth day in a row, the Euro failed to drop beyond Bollinger band at 1.0550 on Monday. Meanwhile, it was a second attempt to breach this support. Overall, EUR/USD went marginally to the south during past 24 hours and remained range bound between 1.055 and 1.06. Technical indicators are completely unchanged from Monday, with daily studies being mixed and weekly ones sending bearish signals. In case the pair crosses 1.05 on Tuesday, it is going to target the weekly S1 at 1.0434 next.
Traders' Sentiment
Distribution between bulls and bears at the SWFX market is the most positive in more than three months, as longs are currently holding 56% of all opened positions, up 2% during past 24 hours.
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