Note: This section contains information in English only."The euro is under pressure because of focus on the near-term political events. The Trump victory has resulted in concerns that we could see similar outcomes in the elections in Europe."
- ABN Amro Bank (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]Wednesday ended with the EUR/JPY currency pair making a U-turn and undergoing a small correction.[/ANNOUNCE] As a result, the cross slid back under the 117.00 major level, completely ignoring the nearest supports on its path. Nevertheless, the overall trend remains bullish, as the pair is still located within the borders of an ascending channel pattern. The bullish potential is limited, due to the upper border of the pattern, located at 117.23, being reinforced by the weekly R1, the Bollinger band and the 61.80% Fibo. Moreover, the given cross has been trading near the channel's resistance line for nearly two weeks, thus, another leg down could be seen, which would reconfirm the pattern's support line.
Traders' Sentiment
Today 57% of traders are long the Euro (previously 59%), while 49% of all pending orders are to sell the single currency (up from 45%).
Thu, 17 Nov 2016 14:48:44 GMT
Source: Dukascopy Bank SA
- ABN Amro Bank (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]Wednesday ended with the EUR/JPY currency pair making a U-turn and undergoing a small correction.[/ANNOUNCE] As a result, the cross slid back under the 117.00 major level, completely ignoring the nearest supports on its path. Nevertheless, the overall trend remains bullish, as the pair is still located within the borders of an ascending channel pattern. The bullish potential is limited, due to the upper border of the pattern, located at 117.23, being reinforced by the weekly R1, the Bollinger band and the 61.80% Fibo. Moreover, the given cross has been trading near the channel's resistance line for nearly two weeks, thus, another leg down could be seen, which would reconfirm the pattern's support line.
Traders' Sentiment
Today 57% of traders are long the Euro (previously 59%), while 49% of all pending orders are to sell the single currency (up from 45%).