© Dukascopy Bank SA
- Gaitame.com Research Institute Ltd. (based on Bloomberg)
Pair's Outlook
Yesterday Eurozone's currency managed to open above the major level at 139; however, today the Euro extended last week's decline and slid below this level once again. In May the pair has been driven by its bears; moreover, at the moment the pair falls towards the monthly S2 and weekly S1 at 138.38/30. However, we expect the common currency to rebound above 200-day SMA at 139.26, because the pair has been trading above this level for more than a year.
Traders' Sentiment
The distribution between the proponents and opponents of the Euro's appreciation relative to the Japanese Yen remains more or less the same as on Friday—52% and 48% accordingly.
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