EUR/USD is stuck near 1.0970
"There could be some sudden moves though as small orders can move the market unpredictably. Volatility tends to increase towards the end of the year."
- FXPrimus Europe (based on Reuters)
Pair's Outlook
During the next few days EUR/USD is projected to develop sideways, owing to lack of fundamental drivers and low trading volume. The latter continued to fall down for a seventh consecutive day on Friday of the previous week when the trading session was very short. For the moment the pair is placed between the weekly pivot point (1.0932) and 50% Fibonacci retracement of an Oct-Nov downtrend (1.1008). Without any shocks, the cross is highly likely to act within these boundaries in the next 24 hours.
Traders' Sentiment
There are more bears coming into the SWFX market, as their market portion increased from 56% to 57% since Thursday of the previous week. Meanwhile, 100-pip long pending orders gained ground over the weekend and rose up to 55% by Monday morning.
- FXPrimus Europe (based on Reuters)
Pair's Outlook
During the next few days EUR/USD is projected to develop sideways, owing to lack of fundamental drivers and low trading volume. The latter continued to fall down for a seventh consecutive day on Friday of the previous week when the trading session was very short. For the moment the pair is placed between the weekly pivot point (1.0932) and 50% Fibonacci retracement of an Oct-Nov downtrend (1.1008). Without any shocks, the cross is highly likely to act within these boundaries in the next 24 hours.
Traders' Sentiment
There are more bears coming into the SWFX market, as their market portion increased from 56% to 57% since Thursday of the previous week. Meanwhile, 100-pip long pending orders gained ground over the weekend and rose up to 55% by Monday morning.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.