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- Citigroup (based on Reuters)
Pair's Outlook
The European currency appreciated in moment's notice against the Greenback, as US Non-Farm Employment Change data was published. Since the employment was expected by various experts to increase by around 160,000, but turned out to be a 38,000 change, the Euro surged from 1.1150 to 1.1367 at the end of day's trading session. In addition it has not rebounded on Monday and is trading around the monthly S2 at 1.1342, which indicates at possible continuation of appreciation of the currency pair.
Traders' Sentiment
Traders are bearish on the EUR/USD pair, as 54% have opened short positions. In the meantime, pending orders in the 50-pip range are 58% short and 53% short in the 100-pip range.
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