© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
For a three straight trading days the Euro traded above the major level at 137; although, it slid below this level today. It seems that the pair's bulls took a break for now, as the daily and weekly technical indicators also point to the south. If the pair slides lower then the weekly S1 at 136.46 may be approached, while the monthly S1 most likely will remain intact for the time being. However, there still is a possibility of rebound, meaning the pair could reach the 137 mark.
Traders' Sentiment
At the moment of writing 64% of the SWFX market participants are expecting the single European currency to lose value against the Japanese Yen, this number has been increasing for 8 straight days. In the meantime, the share of buy orders grew from 34% up to 42%.
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