© Dukascopy Bank SA
- Nordea Bank AB (based on Bloomberg)
Pair's Outlook
Despite the fact that pair started the week significantly lower than the last weeks closing price, it has appreciated since the opening bell. Long traders should pay close attention to the 132.7 and, if it is breached, to 133.6. Short term technicals indicate that pair is facing some downside risk. In case the pair fails at 132.7, close attention should be paid to 131.6. failure here could provoke a slippage to 130.5.
Traders' Sentiment
At the moment open positions are almost equally divided between the long and short traders which comes not much of a surprise since both currencies, the euro and yen, are sold in equal frequency (38%) of all the cases across the board. Clear majority of pending orders (65%), however, are set by the bulls.
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