© Duakscopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
Since the middle of July the pair has not successfully stabilised its positions above the 137 mark; however, at the moment it is testing this level once again. If the Euro manages to break the major level at 137 then it might gain bullish momentum and approach the 20-day SMA and monthly S1 at 137.43/59. Nevertheless, the daily and weekly technical studies are bearish and that could limit or even for now stop the pair's advance.
Traders' Sentiment
Bearish side of open positions returned to 62% level today; up from 54% yesterday; moreover, the sentiment was at this level two days ago. The distribution between the buy and sell orders is also quite stable—53% and 47% respectively.
© Duakscopy Bank SA