© Dukascopy Bank SA
- Mitsubishi UFJ (based on Bloomberg)
Pair's Outlook
The Europe's common currency climbed higher today, after yesterday's bearish ambitions, when the pair slid below the major level at 137. If the pair continues to go forward with its bullish intentions then the next target level is the cluster of resistance levels (55-dat SMA, weekly R1, monthly PP) around the 137.70 levels. However, the technical indicators do not give a clear signal, but we tend to agree with the longer term (monthly) technical studies that point to the north.
Traders' Sentiment
The pair's sentiment has not changed since a day earlier, as 64% of the traders are bearish on the Euro. In the meantime, the share of sell orders grew from 58% up to 60%.
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