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- Vantage FX (based on Investing.com)
Pair's Outlook
After suffering huge losses on the Brexit vote results, the Euro has slightly recovered against the US Dollar on Monday, as the currency exchange rate moved from 1.1005 at the start of Monday's trading session, to 1.1040 by 7:00 GMT. However, it is still more than 300 pips below the pre-Brexit vote levels of around 1.1380. In addition to the grim side, daily aggregate technical indicators forecast a decline for the pair today. In such case, it faces the monthly S1 at 1.0948.
Traders' Sentiment
SWFX traders are bearish on the pair, as 53% of open positions are short. In the meantime, pending orders in the 100-pip range are also 53% short.
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