© Dukascopy Bank SA
- based on Bloomberg
Pair's Outlook
The common European currency was set to surge against the US Dollar on Thursday morning, as it faced no resistance up to the level of 1.1280, where the first weekly resistance is located at. Previously, on Wednesday the currency exchange rate experienced high volatility, as it was trading in the range from 1.1182 to 1.1236. In the meantime, daily aggregate technical indicators support a surge of the rate by the end of today's trading session.
Traders' Sentiment
SWFX trader sentiment remains unchanged, marking a week of steady bearish sentiment, as 60% of open positions are short on Thursday. In the meantime, pending commands have become identical to the open positions, as 60% of set up orders are to sell the pair.
© Dukascopy Bank SA