© Dukascopy Bank SA
"If our [U.S.] economy goes into a recession, especially a serious recession, a deep recession, that's going to hit imports from the rest of the world. And to the extent that it messes up financial markets, that has a contagion effect"
- Citigroup Inc. (based on CNBC)
Pair's Outlook
Seems that EUR/USD will stay beneath a 1.3230 level during Christmas and the New Year's Eve, as this level was retested by three consecutive trading sessions. During the previous one the pair was also demonstrating an inclination to be bullish, but was pushed back. In case the price gathers bearish momentum, the next support level is at a 1.3121/1.3121 area, were the monthly R1 merges with the weekly S1.
Traders' Sentiment
Bearish sentiments take a lead in the SWFX market, since 32% of positions are long and 68% are short. Pending orders market is rather neutral, as the buy side has 54% and the sell side has 46% of placed orders.
© Dukascopy Bank SA