"Everyone has in mind the surprises of Brexit and Trump, but to change the result you would need a massive movement and we simply detect no sign of it."
— Jerome Fourquet, Ifop (based on Bloomberg)
Pair's outlook
The Euro is depreciating against the Yen today, resulting from the price entering the overbought area. Technical oscillators are gradually returning to neutral positions. This should allow the Euro to trade higher against the Yen in the following week. Technical indicators remain bullish; thus, it is unlikely that this trading south persists for more than several trading sessions. There are two possible scenarios for today. The base scenario suggests that the pair should remain in the red area, not exceeding 123.20/10. On the other hand, the pair may also trade north, starting to react positively towards the French election. This should set the weekly R2 at 123.90 as a possible target.
Traders' sentiment
Market sentiment has turned bearish, as 54% of traders are holding short positions. In addition, 55% of pending orders are to sell the Euro.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -8% | 14% | -4% | |
| Orders | -10% | -18% | -16% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Sell | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | → | |