© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
Pair's skyrocketing was met with some resistance yesterday as it seems to be struggling with monthly R2. Weekly R2, however, seems to be providing enough support at the same time. Advancement above the 1.356 would put 1.365/70 area on the map. In case the pair fails, it might dip to 1.34 area, level of the right before the major jump few days ago.
Traders' Sentiment
Greenback remains the second most bought major currency across the board which continues to weigh heavy on the euro cross. 69% of traders, same share as yesterday, are already short on the pair. However, 55% of pending orders are set to go long on the pair.
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