© Dukascopy Bank SA
– based on FX Empire
Pair's Outlook
The European common currency depreciated against the US Dollar on Thursday, as it opened day's trading session at 1.1100 and ended the session at 1.1062. By doing that the currency exchange rate dropped once again below the support at 1.1092 made up of the weekly PP and 200-day SMA. At the moment, the currency exchange rate is once again moving up to face the same level, with which it has struggled for the past seven trading sessions. However, daily aggregate technical indicators forecast a depreciation for the EUR/USD pair today.
Traders' Sentiment
SWFX traders are still slightly bullish on the pair, as 51% of open positions are long. In the meantime, pending orders in the 100-pip range are 70% short.
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