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– Enrique Diaz-Alvarez, Ebury (based on Bloomberg)
Pair's Outlook
The common European currency scored about fifteen pips against the US Dollar on early Tuesday morning, which could almost be called as remaining flat. Previously, on Monday the currency exchange rate fell from 1.0833 to end the day at 1.0737. During the move the pair passed the support cluster made up of the March low of 1.0822, the long term pattern's lower trend line at 1.0830 and the first monthly support level at 1.0806. It is most likely that the exchange rate will remain flat by the end of the day.
Traders' Sentiment
SWFX traders remain bullish on the pair, as 58% of open positions were long on Tuesday morning. Meanwhile, 65% of trader set up orders are to sell the Euro.
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