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– Mark Chandler, Brown Brothers Harriman, (based on investing.com)
Pair's Outlook
The common European currency appreciated against the US Dollar on early Friday morning. However, the surge up to 1.1280 by 5:15 GMT is only a slight jump, compared to the level of 1.1326 touched during Thursday's trading session. Although, the volatility was cause by the ECB rate announcement and the following press conference. During Friday's trading session the rate has set its eyes once more to the resistance cluster starting above at 1.1305, where the second weekly resistance is located at.
Traders' Sentiment
Traders continue to increase their bearish sentiment, as 63% of open positions are short on Friday. In the meantime, pending orders are almost neutral, as 51% of them are to buy the Euro.
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