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– Brown Brothers Harriman (based on investing.com)
Pair's Outlook
The US Dollar has been fluctuating around the 1.11 level against the Euro for the past three trading sessions. However, the general trend is a slow surge of the Greenback against the European common currency. The 1.11 level for the pair is located between the monthly pivot point from the upside at 1.1149 and a support cluster made up of the weekly pivot point and the 200-day SMA at 1.1092/1.1095. Daily aggregate technical indicators forecast a depreciation for the Buck against the Euro.
Traders' Sentiment
SWFX traders have increased their bearish stance, as 55% of open positions on Monday morning were short. In the meantime, pending orders in the 100-pip range have become also bearish, as 57% of orders are short.
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