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– based on Forex Crunch
Pair's Outlook
Fully ignoring all aggregate technical indicators, which kept forecasting a decline, the Euro has been appreciating against the US Dollar the whole week, as it starts Friday's session with more gains against the Buck. In addition, the common European currency touched and for a moment went past the resistance cluster located above it, which consists of the monthly PP at 1.1119 and weekly R1 at 1.1157, as on Thursday the currency exchange rate at one moment was at 1.1164. However, daily aggregate technical indicators forecast no changes for the pair today.
Traders' Sentiment
SWFX traders are still bearish on the pair, as 55% of open positions are short. In the meantime, pending orders are also bearish, as 58% of pending orders in the 100-pip range are short.
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