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- ECB Executive Board (based on Bloomberg)
Pair's Outlook
After yesterday's advance to the weekly PP and 100-day SMA at 140.82 the Euro has plunged below the monthly S1 and major level at 140.08/00. With this recent drop in pair's value the technical indicators are becoming more bullish. We also think that the common currency is undervalued at the moment and we see the 200-day SMA and major level at 139 as a bottom, which might not be reached. The next target is the major level at 140, which most likely will be approached in the near term.
Traders' Sentiment
SWFX market participants are getting encouraged by Euro's depreciation as the amount of pair's bulls increased by 8% to 49%. In the meantime, the share of buy orders grew from 40% up to 44%.
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