"There is little in the calendar to drive the euro today. The euro will await ECB President Draghi's appearance tomorrow.
— Lloyds Bank (based on FX Street)
Pair's outlook
The outcome of the French presidential election interfered with the Euro's six-day gain, closing in the red area yesterday. But it seems that the pair may resume its upward movement today. The nearest resistance formed by the monthly R1 at 124.07 was strong enough to halt the pair from appreciating on Friday; thus, it could do the same in this trading session, as well. The Euro being in the overbought territory may turn traders cautious on its further appreciation against the Yen. Nevertheless, in case the pair reverses to the downside, it is not expected to go below the weekly PP at 123.12, as trend indicators remain bullish.
Traders' sentiment
Market sentiment remains bearish, as 51% of open positions are short (previously 42%). Meanwhile, 53% of set up orders are to buy the pair.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -2% | -16% | -8% | |
| Orders | 6% | 8% | -10% | |
| 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 | ↗ | ↗ | → | |