- Jeff Miller, CEO of NewArc Investments, Inc. (based on Investing.com)
The Euro depreciated against the US Dollar on Thursday and Friday falling to the level of 1.125, which is almost halfway down to the level of 1.115, at which the currency exchange rate was before the disappointing US non-farm payrolls numbers came out and sent the pair upwards. On Monday morning the Euro has appreciated a little bit against the Greenback. However, strong resistance is provided by the monthly PP at 1.1282 and the 20-day SMA at 1.1271. In case the pair moves south, it faces the 100-day SMA at 1.1212.
SWFX traders are still bearish on the currency pair, as 53% of open positions are short. In the meantime, pending orders are bullish, as in the 50-pip range 66% and in the 100-pip range 65% of orders are long.