- Christopher Vecchio, DailyFX (based on MarketWatch)
The Euro rebounded after it touched upon the formidable 1.0970/50 demand area. However, the 200-day remains intact, and it still might not let the rate to exit this week's range. In case of a close above 1.1050, the rally will have a good chance of extending up to 1.1115, namely the monthly R2 level. In the longer-term perspective, EUR/USD is expected to recover to 1.14 dollars, which is the current level of the upper bound of the .
The difference between the amounts of long and short positions is negligible—merely 2 percentage points, meaning the sentiment is neutral. As for the orders, the portion of commands to sell the single currency inched higher from 54 to 62%.