- SWFX market sentiment is 59% bullish
- 57% of pending orders in the 100-pip range are to SELL
- Empty economic calendar
EUR/USD relatively calm during the Asian session.
The European Central Bank released Main Refinancing Rates that came in line with expectation of 0.0%, and stayed unchanged for the last periods.
Mario Draghi, president at ECB (European Central Bank) said: "While uncertainties, notably related to the global trade environment, remain prominent, the information available since our last monetary policy meeting indicates that the euro area economy is proceeding along a solid and broad-based growth path".
Empty economic calendar
No important data releases are scheduled for today.
EUR/USD tested the 200-hour SMA
The common European currency remained stable against the Greenback on Friday. Even though technical indicators showed signs of recovery and were actually edging higher during the day, the pair failed to gather the necessary bullish momentum to dash through 1.1680. This significant resistance cluster is formed by the 55-, 100– and 200-period SMAs both on the 1H and 4H time-frames.This session lacks important fundamental releases, so it is likely that the given level remains intact today, as well. Given all this into account, it is expected that the Euro weakens and tries to approach the bottom boundary of a two-month symmetrical triangle and the weekly S1 at 1.16.
By and large, the Euro should hinder near the 1.1680 for a few sessions prior to breaching this mark and surging towards 1.1750.
Hourly Chart
The EUR/USD currency exchange rate has revealed a triangle-like pattern on the daily time frame.
Daily chart
SWFX traders are LONG on the EUR/USD pair, as 59% of open positions were bullish during the morning hours. However, traders set up orders are bearish, as 57% of trader set up orders are to SELL the Euro.
Meanwhile, the market sentiments of OANDA traders are bullish on the EUR/USD pair as 56% of open positions are long. In addition, Saxo bank traders are 53% also bullish in regards to this exchange rate.
Spreads (avg, pip) / Trading volume / Volatility