‘Thanks to the strongest increase in private payrolls since April 2014, the U.S. dollar extended its gains against all of the major currencies.’ – Kathy Lien, BK Asset Management (investing.com)
Pair’s Outlook
On Thursday morning the common European currency continued to depreciate against the US Dollar, as the currency exchange rate passed another notable level of support. The currency pair had dropped below the weekly S1, which is located at 1.0533 level and stopped the pair’s fall during Wednesday’s trading session. It is likely that the rate will fall to the lower Bollinger band, which was located at 1.0508 on Thursday morning. However, below that the closest cluster of support begins at 1.0446, where the weekly S2 is located at.
Traders’ Sentiment
For the fourth consecutive trading session SWFX traders remain neutral bullish on the pair, as 51% of open positions are long. In addition, trader set up orders are identical, as 51% of orders are set to buy the Euro.
