© Dukascopy Bank SA
- Standard Chartered (based on CNBC)
Pair's Outlook
The pair continues to trade around the major level at 137. This level together with the down-trend line around 136.75 has been the main support levels that held the pair back from falling lower. The technical indicators remain mixed, with the longer term (monthly) technical studies being bullish. We suspect the European shared currency to challenge the weekly PP and monthly S1 around 137.50. However, sliding below the downtrend line could cause a major sell-off.
Traders' Sentiment
Through last couple of trading days the amount of bullish traders has increased significantly, with 69% of them expecting the Euro to outperform the Japanese currency.
© Dukascopy Bank SA