‘It was supposed to be a year of risk that could lead to a break up of the euro. It’s turning out to be the best year in a decade for the shared currency.’ – Stefania Spezzati, Bloomberg
Pair’s Outlook
On Thursday morning the common European currency was continuing the surge against the US Dollar. The surge began during Wednesday’s trading session, when the currency pair remained at a resistance cluster in the expectations of fundamental news from the US Central Bankers. If the pair continues the surge, it is highly likely that after some struggling with weak resistance levels the currency exchange rate will surge to the 1.13 mark. There it will be most likely paused by the weekly R1, which is located at the 1.1306 level.
Traders’ Sentiment
SWFX traders have 60% of open positions short, and that same percentage of all trader set up pending orders is set to sell the pair.
