‘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.
