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EUR/USD gets support from lower Bollinger band

© Dukascopy Bank SA
"Growth is slowing in the first quarter after a strong second half of last year. All the gas savings are ending up at the bank rather than being spent."
- Standard Chartered Bank in New York (based on Reuters)

Pair's Outlook
EUR/USD stays broadly stable for a third day in a row. On Monday, it registered completely no daily change in any direction and stayed just below the Bollinger band around 1.1180. On Tuesday morning, however, the pair is gaining some value, being supported by the mentioned technical level. If the pair manages to consolidate above 1.12 round level, the short-term expectation will become bullish, with a target at 1.1256 (weekly PP) during next 48 hours. 

Traders' Sentiment
Bullish opened positions at SWFX are accounting for 49% in the morning on Tuesday, down from neutral distribution seen on Monday. SWFX pending orders to buy the Euro against the US Dollar in 100-pip range from the spot are in the minority with just 37%.

© Dukascopy Bank SA


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