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– Kathy Lien, BK Asset Management (based on investing.com)
Pair's Outlook
The common European currency skyrocketed and touched 1.13 level on Wednesday morning against the US Dollar. The reason is simple, as Trump was winning the US presidential election, and most market participants did not presume it to be possible. There is one reason why the markets did not think of it as possible. The reason is that most traders, bankers, asset managers belong to one social class in the societal hierarchy, which happens to be one of those that voted for Hillary Clinton. The personal bias has made most of forecasts wrong.
Traders' Sentiment
SWFX traders remain short, as 52% of open positions are bearish. In addition, 54% of trader set up orders are to sell.
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