© Dukascopy Bank SA
- FX Techstrategy Team (based on investing.com)
Pair's Outlook
The common European currency fluctuated between two levels of significance against the US Dollar on Monday morning. The two levels of significance were the 2015 low level at 1.0462 and the newly calculated weekly PP at 1.0435. During the previous trading sessions the pair fluctuated near the same level. However, there was no equivalent to the support of the new weekly pivot point. Due to that it might be possible that the rate will continue to remain rather flat before it moves lower later on.
Traders' Sentiment
Traders remain bullish on the pair, as 56% of open positions were long on Monday. Meanwhile, 60% of pending commands were to sell the Euro.
© Dukascopy Bank SA