© Dukascopy Bank SA
- Swissquote Bank SA (based on Bloomberg)
Pair's Outlook
The Euro is continuing yesterday's drop by falling below the major level at 139 and sliding closer to the 138 level. The pair's bearishness is so strong that it could not be stopped nor with the weekly S1/20-day SMA, nor with the major level at 139. The next target for pair's bears is the weekly S2 and the major level at 138.20/00. Most likely this level should challenge pair's bearish momentum as it is also the lowest level (at 137.97) in more than three months.
Traders' Sentiment
Despite the sharp decline the sentiment remains basically unchanged as 60% of the market participants expect the Euro to underperform against the Yen. The distribution between the buy and sell orders is quite stable—46% and 54% respectively.
© Dukascopy Bank SA