EUR/USD holds above support at 1.1225
"Amid some volatility, the dollar will be in a downward trend."
- Macquarie Bank (based on Bloomberg)
Pair's Outlook
Fluctuations of the most traded FX currency pair were quite limited on Monday, mainly owing to emptiness of the economic calendar. Daily range stood within 20 pips, meaning EUR/USD is maintaining 1.1227/23 as the immediate support. We are thereby not ruling out a spike to 1.1310 where the pair is going to meet the multi-month downtrend. Failure there would be the second one in four days and would diminish our future outlook. Adding to that, the daily RSI indicator supposes the cross is overbought, even though such a view is disagreed by many other daily indicators.
Traders' Sentiment
Even though the short market participants in the SWFX market are holding the portion of 56%, this is their lowest level in five working days.
- Macquarie Bank (based on Bloomberg)
Pair's Outlook
Fluctuations of the most traded FX currency pair were quite limited on Monday, mainly owing to emptiness of the economic calendar. Daily range stood within 20 pips, meaning EUR/USD is maintaining 1.1227/23 as the immediate support. We are thereby not ruling out a spike to 1.1310 where the pair is going to meet the multi-month downtrend. Failure there would be the second one in four days and would diminish our future outlook. Adding to that, the daily RSI indicator supposes the cross is overbought, even though such a view is disagreed by many other daily indicators.
Traders' Sentiment
Even though the short market participants in the SWFX market are holding the portion of 56%, this is their lowest level in five working days.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.