© Dukascopy Bank SA
- European Central Bank Governing Council member Ewald Nowotny (based on RTE)
Pair's Outlook
Pair extended it's losses yesterday, but found support at weekly S2/monthly S1/55-day SMA at 1.4059/27 and is slowly inching up to 142 JPY. It seems very likely it will climb above it, but it seems rather doubtful the pair could advance above monthly PP/weekly R1/20-day SMA around 143 JPY. Most likely we will see similar consolidation to the on which took place last week.
Traders' Sentiment
We are receiving rather mixed feelings from the market. Market sentiment is now 53% bearish, 49% yesterday. Bullish side of pounding orders increased by 17% (42% in totla0 in 50 pip range, but contracted by 25% (45% in total) in 100 pip range.
© Dukascopy Bank SA