EUR/USD drops after volatile US session

FX:EURUSD   Euro Fx/U.S. Dollar
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"With the last decision it was very clear to me that the hawks took over the steering wheel. That could be the real story for 2016: not only how willing is the ECB to do more but also are they still able to?"
- Rabobank International (based on Bloomberg)

Pair's Outlook
EUR/USD             became increasingly turbulent after the US session began yesterday. From daily highs, the pair dipped about 75 pips to close at 1.0919. As a result of this move, the weekly pivot point was penetrated, while the main support at 1.09 is offered by 55/20-day SMA , weekly S1 and monthly R1. Hence, the Euro             has a good chance of getting a reliable bullish momentum from this demand zone . In the meantime, the gains are still estimated to be contained around 1.10 ( Bollinger band ; weekly R1, 50% Fibo).

Traders' Sentiment
The bears continue outperforming bulls in terms of open positions by a margin of 57% to 43%. However, for now only 35% and 43% of the pending commands are set to acquire the Euro             in 50 and 100-pip ranges from the spot, respectively.
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