The European Central Bank is also under pressure to raise interest rates as price pressures soar in the single block. Get your market update from nickcawley1 here:
from a near two-year low of 1.0800 on March 7 to a fraction under 1.1200 in yesterday’s session. The pair slipped back to 1.1100 today as traders turn their focus on the US PCE release this afternoon. EUR/USD volatility remains high and the CCI indicator continues to flash an overbought EUR/USD warning. With quarter-end portfolio rebalancing added to the mix, expect volatility to remain high going into the weekend.54.28% of traders are net-long with the ratio of traders long to short at 1.
The number of traders net-long is 2.26% lower than yesterday and 13.31% lower from last week, while the number of traders net-short is 7.16% higher than yesterday and 17.62% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current
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