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- European Central Bank President Mario Draghi (based on Bloomberg)
Pair's Outlook
The Europe's shared currency has found some bullish impetus and now it is moving towards the 148 level and most likely a weekly gain, after trading flat for three straight days. Moreover, an overwhelming majority of the technical indicators are bullish in all time frames. Thus, most likely the pair will reach the weekly R1 at 148.51; however, it is not clear if the pair is ready to breach it for the time being.
Traders' Sentiment
Even though the share of shorts (63%) is presently well below its 10-day average (69%), the sentiment with respect to the Japanese Yen is largely bullish. Meanwhile, the distribution between the buy and sell orders is quite stable—52% and 48% respectively.
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