© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The Euro was highly volatile to the upside against the Greenback on Tuesday, as the pair had reached above the weekly PP at 1.1005. The currency exchange rate was volatile between the levels of 1.0978 and 1.1030. However, at the end of the day the rate moved lower, as the common European currency ended Tuesday's trading session at 1.0986, which is eight pips lower than the opening price of 1.0994. On Wednesday morning, the rate has resume to surge, as it was at 1.10 by 4:45 GMT.
Traders' Sentiment
SWFX trader sentiment has slightly shifted to the bearish side, as 51% of open positions are short on Wednesday morning. In the meantime, pending orders in the 100-pip range are 52% short.
© Dukascopy Bank SA