© Dukascopy Bank SA
- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
Obviously, nothing much has changed since yesterday, as the pair continues to trade between the monthly PP at 145.77 and the weekly S1 at 146.44. Today the pair approached the weekly S1; although, it was not able to breach it. Nonetheless, most likely the pair will test the level once again, since the weekly and monthly technical indicators are bullish and the Euro/Yen seems well supported by the monthly PP.
Traders' Sentiment
As the pair continues to decline the amount of bearish traders is decreasing; however, they are still in majority as 54% of the SWFX traders' have opened short positions. The gap between the buy and sell orders has widened as they are at 45% and 55% respectively.
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