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- Global-info Co (based on FXStreet)
Pair's Outlook
The Euro barely managed to recover from its intraday low yesterday, ultimately adding only 17 pips against the Japanese Yen. Renewed risk-appetite caused the given cross to surge earlier today, with the second resistance area being put to the test. The European single currency was unable to climb over the monthly R1, located at 123.77, through all of December and that is unlikely to change today, despite technical indicators retaining distinctly bullish signals. Even though the second resistance area is seen as the ceiling, the exchange rate could still stabilise below the 123.00 major level, as it kept the pair at bay for nearly two weeks now.
Traders' Sentiment
Today 54% of traders are long the Euro (previously 56%), while 62% of all pending orders are to sell it (up from 48% on Thursday).
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