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- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
The Europe's currency has started the week very strong, after yesterday's advance above the 137 mark the currency pair breached June low at 137.71 today. The next target level is the monthly R1, 100-day SMA and weekly R2 at 137.97/138.20. If the pair does not lose its currently gained bullishness then these levels should be approached in the next trading session. Moreover, the technical indicators remain bullish, thus suggesting that a further appreciation might be expected.
Traders' Sentiment
The traders' sentiment (31%) has not changed since yesterday, even though we witnessed a substantial advance today. In the meantime, the share of sell orders grew from 52% up to 55%.
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