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- Phil Orlando, Federal Investors (based on Reuters)
Pair's Outlook
EUR/USD pair increases for a third consecutive day, still maintaining a bullish momentum from the ECB decision to leave the interest rate unchanged. The major currency pair has appreciated from the lower Bollinger line to the upper in three trading sessions, making the current situation an overbought one, since the RSI has a value of 70 in a daily graph. EUR/USD is breaching a 1.3373 level, where the upper Bollinger band intersects the monthly R1. Further resistance level is at 1.3479, where the weekly R1 merges with an 11-month high.
Traders' Sentiment
The major currency pair keeps bearish sentiments, as 37% of orders are long and 63% are short. Pending orders segment is rather neutral, as 51% of orders are for long positions and 49% are for short.
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