EUR/USD retreats from 1.12 level on Monday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"I don't rule out that there could be some decisions made that would consolidate a group of countries with equal levels of development and, thereby, in my opinion, strengthening the euro." 
–Vladimir Putin (based on Bloomberg) 

Pair's Outlook 

The common European currency is between two strong clusters against the US Dollar on Monday, as the currency exchange rate previously on Friday retreated from the 1.12 level by the end of day's trading session. However, the resistance from the upside is stronger, as the support cluster, and the daily aggregate technical indicators forecast a fall for the currency exchange rate during today's trading session. Due to that, it is most likely that the Euro will depreciate against the Greenback by the end of Monday's trading. 

Traders' Sentiment 

SWFX traders remain bearish on the pair, as 60% of open positions are short on Monday. In the meantime, pending commands are 58% to sell the pair.
© Dukascopy Bank SA

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