Note: This section contains information in English only."The ECB raised the euro zone inflation and growth profile for 2018, and (Draghi) reduced the risks, although they still remain on the downside for growth. It's clear the market's taken it as somewhat positive (for the euro)."
- Citigroup (based on Reuters)
Pair's Outlook
[ANNOUNCE]Wednesday, as expected, was another day of consolidation, being that the EUR/JPY pair remained relatively unchanged, even though rather strong volatility was seen. [/ANNOUNCE]Nevertheless, the European single currency received a strong boost today, allowing the given cross to erase all this week's losses and establish a fresh four-week high. The immediate resistance area, however, is expected to hold the pair from appreciating further. The 121.50 level still represents a strong psychological resistance, which coincides with the nearest resistance cluster today.
Traders' Sentiment
Market sentiment turned bullish again today, with 52% of all open positions being long (previously 49%). At the same time, the share of purchase orders declined from 58 to 45% during the last 24 hours.
Thu, 09 Mar 2017 16:18:28 GMT
Source: Dukascopy Bank SA
- Citigroup (based on Reuters)
Pair's Outlook
[ANNOUNCE]Wednesday, as expected, was another day of consolidation, being that the EUR/JPY pair remained relatively unchanged, even though rather strong volatility was seen. [/ANNOUNCE]Nevertheless, the European single currency received a strong boost today, allowing the given cross to erase all this week's losses and establish a fresh four-week high. The immediate resistance area, however, is expected to hold the pair from appreciating further. The 121.50 level still represents a strong psychological resistance, which coincides with the nearest resistance cluster today.
Traders' Sentiment
Market sentiment turned bullish again today, with 52% of all open positions being long (previously 49%). At the same time, the share of purchase orders declined from 58 to 45% during the last 24 hours.