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– Benoit Coeure, ECB (based on Reuters)
Pair's Outlook
The common European currency surged against the US Dollar on early Friday morning, as the currency exchange rate attempted to break the resistance put up by the Bexit low level at 1.0911. The pair found support during Thursday's trading session in the second weekly support level at 1.0866. Afterwards the currency pair rebounded and began the surge, which followed into Friday. Traders should watch the rate for a reversal or a break of the resistance, which would reveal the rate's further movement.
Traders' Sentiment
Traders are slightly bullish on the pair, as 53% of open positions were long on Friday. Meanwhile, trader set up orders were bearish, as 64% of pending commands were to sell the Euro.
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