© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
The Euro dropped to trade around the monthly S1 at 140.08, after the weekly PP and 100-day SMA at 140.82/84 was reached. It seems that at the moment the pair is not ready to break the weekly PP/100-day SMA; however, we expect it to happen. The majority of the technical indicators are bullish, yet at the short term some fluctuation around the major level at 140 is possible. Nevertheless, if the pair slips below the monthly S1 then a selloff could start.
Traders' Sentiment
The distribution between the proponents and opponents of the 18-nation currency appreciation relative to the Japanese currency remains more or less the same as 24 hours ago—59% and 41% accordingly.
© Dukascopy Bank SA