© Dukascopy Bank SA
- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
Today the Euro declined below the weekly PP at 138.81 this drop was mostly driven by the strong resistance at the 139 level. Now the pair is supported by the monthly S2 and weekly S1 at 138.38/31 and this resistance level's strength will be tested soon. We expect the shared currency to fall closer to the major level at 138; although, it is not very likely that the pair could slip even lower. Pair's short term technical indicators are also largely bullish.
Traders' Sentiment
The pair's sentiment still is very close to parity, at the moment 52% of the SWFX market participants are bullish. Meanwhile, the percentage of orders set to acquire the Euro fell, reaching 55%.
© Dukascopy Bank SA