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"The Trump victory has resulted in concerns that we could see similar outcomes in the elections in Europe."
– Georgette Boele, ABN Amro (based on Bloomberg)
Pair's Outlook
On early Monday morning the common European currency was in its sixth consecutive session of losses against the Greenback, as the currency exchange rate fell below the March low level and the first monthly support, which are located respectively at 1.0822 and 1.0806. Further below the EUR/USD currency exchange rate there are no support levels until the January low, which is at 1.0709. In addition, the historical low is also supported by the weekly S1 at 1.0688. However, daily aggregate technical indicators forecast that the rate will remain unchanged by the end of the day.
Traders' Sentiment
SWFX traders remain bullish, as 56% of open positions are long. However, trader set up orders are bearish, as 69% of set up commands are to sell.
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