- Commonwealth Foreign Exchange Inc. (based on Bloomberg)
EUR/USD created a classical long lower shadow during the session on Friday. It indicates that short traders controlled the pair, but then lost overall control to the bulls who managed to make an impressive comeback. Such a candle followed a strong surge on Thursday, meaning the up-trend seems to be diminishing. The Euro is at risk of tumbling from a December downtrend near 1.0930. The key obstacle is placed above 1.08 (55-day , monthly PP). The success, however, can send the pair as high at 100-day at 1.1024.
The portion of SWFX open positions rose further from 44% to 45% by Monday morning, while 100-pip long pending orders returned back into red (53% ) over the weekend.