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- BK Asset Management (based on investing.com)
Pair's Outlook
After Brexit on Monday, the Euro started recovering against the US Dollar by appreciating from 1.1007 at the start of Monday's session to 1.1023 at the end of day's trading. On Tuesday morning the currency exchange rate is continuing yesterday's recovery, as by 5:00 GMT the pair has surged from 1.1023 to 1.1060. One of the main reasons for this surge is the correction of the Euro's value after the markets might have overreacted on the UK's referendum vote results.
Traders' Sentiment
SWFX traders have slightly decreased their bearish sentiment, as 52% of open positions are short, which is a 1% decrease, if compared to yesterday's 53%. In the meantime, short pending orders in the 100-pip range have increased from 53% to 56% overnight.
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