© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The common European currency surged majorly against the US Dollar on Friday, as the pair surged from 1.1074 to 1.1172 during the day's trading session. With the start of a new week, on Monday, the currency exchange rate slightly gained, as it was at 1.1176 by 5:15 GMT. The pair faces no almost no resistance up to the level of the newly formed weekly R1 at 1.1263, as on the wait northwards are located only the upper Bollinger band at 1.1190 and the 100-day SMA at 1.1235. In the meantime, daily aggregate technical indicators forecast no change for the pair today.
Traders' Sentiment
SWFX traders have increased their bearish sentiment, as 58% of open positions were short on Monday morning. In the meantime, pending orders in the 100-pip range were 55% short.
© Dukascopy Bank SA