HomeContributorsTechnical AnalysisEUR/USD: Pauses Its Decline

EUR/USD: Pauses Its Decline

‘Uninspiring comments from Fed Chair Janet Yellen.’ – Kathy Lien, BK Asset Management (based on investing.com)

Pair’s Outlook

On Tuesday morning the common European currency continued to trade just below the 1.06 mark against the US Dollar. The rate remained almost unchanged during Monday’s trading session, as the Greenback did not gain strength during the speech with mixed signals given by Janet Yellen. However, the previous technical forecast of a decline of the currency pair remains in force, as on Tuesday the lower Bollinger band has closed in on the rest of the support levels, which surround the 1.0550 level. Due to that reason the way is free for a decline.

Traders’ Sentiment

SWFX traders still remain almost neutral, as 52% of open positions are long on Tuesday, compared to 51% previously. Meanwhile, 56% of trader set up orders are to sell the Euro.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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