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Forex pairs in this Article » EUR/USD (Barcelona) - Goncalo Moreira CMT, Technical Analyst has examined the Trading positions page, and believes that EUR/USD could be developing into a bearish position.

Key Quotes

“The Euro slipped off the round number 1.3650 were most recent sell orders are located. Underpinning another advance would come the second layer of sell orders just above 1.3700, the expected higher range for the week by most our dedicated contributors.”

“A mode detailed view on their positions can be seen in the chart below. The mentioned sell orders above 1.37 might profit from the liquidity offered by stops order just beneath it.”

“The benefit of the doubt is on the downside since on the way down a demand level between 1.3500/3550 has emerged and could act as an attractor. It's made of a combination of two mid-term buy-stops and one buy limit order. Sell-stops just below the recent lows could be responsible for a vertical session before end of the week.”

“Note: The positioning data shown herewith is taken from the Trading Positions page, a service offered by FXStreet. The purpose of the service is to provide a glance as to where our dedicated contributors are currently positioned.”
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