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– Christopher Vecchio, Currency Strategist (based on Daily FX)
Pair's Outlook
The Euro started Friday's trading session against the US Dollar at 1.1060, and the currency exchange rate was volatile between the levels of 1.1120 to 1.1002 during the session, until it ended day's trading at 1.1050. At the moment, the European currency against the Greenback is almost unchanged, as it was trading at 1.1051 by 4:45 GMT. Daily aggregate technical indicators forecast a continuation of the Euro's depreciation against the Buck today.
Traders' Sentiment
SWFX traders have shifted their sentiment and become bearish, as 52% of open positions are short on Monday morning. In the meantime, pending orders in the 100-pip range are 73% short.
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