© Dukascopy Bank SA
- the BoJ Governor Haruhiko Kuroda (based on CNBC)
Pair's Outlook
Since the pair appreciated above the monthly PP at 141.70 it has continued to trade around this level; however, it has failed to extend its advance. The monthly PP and weekly R1 should support the pair; moreover, we expect that they will push the Euro higher towards the weekly R2 at 142.40. The technical indicators suggest that in longer period of time the pair will be strongly bullish; however, the daily technicals are mixed.
Traders' Sentiment
Although the pair's sentiment still is bearish, recently more and more traders expect the pair appreciating—46%. The distribution between the buy and sell orders is also quite stable—53% and 47% respectively.
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