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- ECB Governing Council member Luc Coene (based on Reuters)
Pair's Outlook
After yesterday's decline the pair received a bullish impetus from the weekly S1 at 138.16 today. The next target is a cluster of resistance levels (20-day SMA; weekly and monthly PP) at 138.65/84. Seemingly, it will not be easy for the pair to appreciate above the 139 mark; however, the bullish technical indicators could definitely help. We expect the Euro to challenge previously mentioned levels around the major level at 139 and ultimately to breach them.
Traders' Sentiment
At the moment of writing 59% of the SWFX market participants are expecting the single European currency to appreciate against the Japanese Yen.
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