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– based on Bloomberg
Pair's Outlook
The common European currency scored minor gains against the Greenback on Monday morning. However, previously the pair fell below the 1.10 mark by the end of Friday's trading session, as the currency exchange rate ended the week's trading at 1.0985, compared to the opening price of 1.1055. It is most likely that the rate will continue its way down, as the next notable support level is at 1.0929, where the third monthly support level is located at. In the meantime, daily aggregate technical indicators forecast no change for the pair by the end of today's session.
Traders' Sentiment
SWFX traders remain slightly bullish, as 54% of open positions are long on Monday. In the meantime, pending commands are 60% to sell the Euro.
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