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- Bank of America Merrill Lynch (based on CNBC)
Pair's Outlook
After significant drop yesterday, when the Euro slipped more than 50 pips. Today the pair touched the major level at 138; however, there it found some bullish impetus that pushed the currency pair higher. We expect the shared currency to climb slightly higher towards the weekly PP at 138.81. The daily technicals have changed from strongly bearish to moderately bearish; although, longer term technical indicators are more bullish than bearish.
Traders' Sentiment
At the moment of writing 52% of the SWFX market participants are expecting the single European currency to lose value. The gap between the buy (53%) and sell (47%) orders placed 100 pips from the spot is also insignificant for now.
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