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- Jun Kato, Shinkin Asset Management (based on Bloomberg)
Pair's Outlook
The common European currency began the week by treading even lower against the US Dollar, as the currency exchange rate approached the seven month low level of 1.0822, which is represented by the March low level. It is most likely that the rate will fall to the combined support level of the March low and the first weekly support level of 1.0814 and mark a full week of losses. Although, the newly calculated weekly aggregate technical indicators forecast no change in the pair by the end of the week.
Traders' Sentiment
SWFX traders have not changed their sentiment, as open positions and pending commands remain unchanged, respectively, 59% long and 63% to sell.
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