© Dukascopy Bank SA
- Daiwa Securities (based on Bloomberg)
Pair's Outlook
The Euro started the trading with a opening above the 137 level, but during the day it lost some of its strength and slid below the major level. Slightly below the current value there is the monthly S2 and weekly S1 (at 136.46/42). Nevertheless, the shorter term technicals are bearish and that could encourage the traders with short positions. However we expect the pair to head north and to attack the weekly PP and monthly S1 at 137.44/59.
Traders' Sentiment
The sentiment has fallen significantly and today only 42% of the SWFX traders remain bullish, after yesterday's 69%. The distribution between the buy and sell orders is also quite stable—54% and 46% respectively.
© Dukascopy Bank SA