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– based on WBP Online
Pair's Outlook
The common European currency depreciated against the US Dollar on Friday, as chairwoman of the Federal Reserve, Janet Yellen indicated at two not only one rate the central bank's rate hikes until the end of this year. Although, the pair opened Monday's trading session at 1.1174, it surged afterwards to 1.12 mark and is most likely to continue to recover the previous losses. Janet Yellen's speech seems to have provided a buying opportunity for the bulls.
Traders' Sentiment
SWFX traders have not changed their sentiment since Friday, as they remain bearish with 62% of open positions being short on Monday. In the meantime, pending commands have become more bearish, as they are 65% to sell, compared to 57% short orders on Friday.
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