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– John Kicklighter (based on Daily FX)
Pair's Outlook
The common European currency depreciated against the US Dollar on Wednesday, as it stopped its previous surge and dropped to 1.1149 by the end of day's trading session. On Thursday morning, the currency exchange rate tried to move northwards. However, the pair was stopped by the 55-day SMA at 1.1156, and, afterwards, it moved slightly lower, as the exchange rate was located at 1.1145 by 5:00 GMT. The direction of the pair is unclear, as daily aggregate technical indicators forecast, that the pair will surge.
Traders' Sentiment
SWFX traders have slightly decreased their bearish sentiment, as 55% of open positions are short on Thursday, compared to 61% previously. In the meantime, pending commands have not changed, as they remain 56% short.
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