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– Benoit Coeure, ECB (based on Bloomberg)
Pair's Outlook
The common European currency found support against the US Dollar in the post-Brexit low level at 1.0912. Previously, on the US Election Day the currency exchange rate experiences high volatility, as Donald Trump won the race for the seat in the white house. During the day the pair touched the 1.13 level. However, by the end of Wednesday's trading the world calmed down and looked at the situation more pragmatic, without the hysteria of US media. Due to that, the Greenback even strengthened, and the rate fell to the Brexit low level, where it found support and is likely to surge to 1.10, where the weekly S1 is located at.
Traders' Sentiment
SWFX traders are neutral bullish on the pair, as 51% of open positions are long. Meanwhile, 62% of trader set up orders are to sell the Euro.
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