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    EUR/USD fails to violate Bollinger band for second day

    © Dukascopy Bank SA
    "The dollar has been trading on the stronger side. I'm looking for confirmation that the economy was getting better toward the end of the first quarter. The market is anticipating good figures."
    - strategist at Mizuho Bank Ltd. (based on Bloomberg)

    Pair's Outlook
    Despite falling for a sixth day in a row, the Euro failed to drop beyond Bollinger band at 1.0550 on Monday. Meanwhile, it was a second attempt to breach this support. Overall, EUR/USD went marginally to the south during past 24 hours and remained range bound between 1.055 and 1.06. Technical indicators are completely unchanged from Monday, with daily studies being mixed and weekly ones sending bearish signals. In case the pair crosses 1.05 on Tuesday, it is going to target the weekly S1 at 1.0434 next. 

    Traders' Sentiment
    Distribution between bulls and bears at the SWFX market is the most positive in more than three months, as longs are currently holding 56% of all opened positions, up 2% during past 24 hours. 

    © Dukascopy Bank SA

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