© Dukascopy Bank SA
– John Kicklighter, Chief Currency Strategist (based on Daily FX)
Pair's Outlook
The common European currency remained unchanged against the US Dollar on Tuesday morning, compared to the level of opening on Monday morning. Previously, on Friday the rate fell below the Brexit low level of 1.0912, and it is posed to fall even more, as the currency exchange rate has the next support almost 60 pips below it. At 1.0822 the March low level is located at, and it is strengthened by the weekly S1 at 1.0814. Although, technical indicators suggest that the pair will remain unchanged by the end of the day.
Traders' Sentiment
SWFX traders have not changed their stance, as 59% of open positions remain long. In the meantime, 60% of pending commands are set up to sell the Euro.
© Dukascopy Bank SA