"Eurozone economic growth expanded by 0.5% in the first quarter, according to the second estimate of gross domestic product from Eurostat. That was in line with forecasts and the flash estimate."
— Carla Mozee (based on Market Watch)
Pair's outlook
Yesterday's close above the weekly R1 confirmed that the pair's consolidation period is over. During this trading session, the European common currency is demonstrating strong upside volatility, resulting in a breach of the weekly R2 at 125.38. Trend indicators continue flashing strong momentum signals, demonstrating that no changes in the price's movement should be apparent in the nearest time. The base scenario for today favours the Euro closing slightly above the weekly R2 in the 125.40/55 area. It is unlikely that any other resistance or support levels are reached in this trading session.
Traders' sentiment
Traders have increased their bearish sentiment today, as 61% of open positions are short. In addition, 53% of pending orders are to sell the Euro.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -22% | -16% | -24% | |
| Orders | -6% | -4% | 16% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Sell | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Buy | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Sell | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | → | |