The common European currency is being traded around the local high at 1.3840. The bearish tendency has been looking fairly strong over the last few days.
The market sentiments about EUR are negative despite the fact that the bulls are desperately trying to regain the lost ground by reducing the volume of their buy-positions, which is of no considerable effect. Some Asian corporations show demand for USD close to 1.3910, which makes the bears feel more confident and strong.
The news block on GB at 9.30GMT, including Trade balance, may cause an increase in the market activity today.
The Department of Volume Analysis of Masterforex-V Academy has defined for today:
The mid-term dynamics is bearish
The short-term dynamics of 6ECONT (EURUSD futures):
The max level of the Euro session at 1.3955 may become today’s key level as it is definitely interesting for the market participants – the current trading volume is over 2000 lots. A downward breakout of the level will prompt the further downtrend of EURUSD. Once the price goes up from the level and settles above it the bulls will get a chance to win back their positions.
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