© Dukascopy Bank SA
– Holger Sandte, Nordea Markets (based on Bloomberg)
Pair's Outlook
The Euro slightly depreciated against the US Dollar on Tuesday morning, as the currency exchange rate was slowly heading for the weekly PP, which is located at 1.0942. Previously, on Monday the currency pair did not fluctuate much during the session, as it only slightly moved southwards by almost 12 pips, which could be called as a no move at all. It is most likely that the pair will continue to fall until it reaches the weekly PP at 1.0942, where it is likely to find some support.
Traders' Sentiment
Traders once more have decreased their bullishness, as 55% of open position are long on Tuesday, compared to 57% on Monday. Meanwhile, trader set up orders are bearish, as 58% of set up orders are to sell.
© Dukascopy Bank SA