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- Dennis Pettit, Bloomberg
Pair's Outlook
The common European currency surged on Thursday morning against the US Dollar, as it once more reached the 2015 low level. Previously, during Wednesday's trading session the currency pair retreated after slightly reaching above the 2015 low level, which is located at 1.0462. Afterwards, the rate fell until it found support in the weekly S1 at 1.0371. Thursday's morning surge was just a continuation of that rebound. The rate is set to continue bouncing around below the 2015 low level throughout the day.
Traders' Sentiment
SWFX traders remain bullish with 57% of total open positions being long. Meanwhile, trader set up orders remain unchanged, as 61% of pending commands were to sell the Euro.
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