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"We were all aware that the decline in the inflation rate in December ... first of all was expected, and it was caused by a technical adjustment in the statistics of the services inflation in Germany."
- ECB President (based on The Chicago tribune)
Pair's Outlook
Pair continues to trails lower and, as short term technicals suggest, we are likely to see a continuation of the trend. It is very likely to trail as low as 140.88. Dip below it could provoke a major sell off till 138 where median expectation price of major market participants for this quarter is located. However, this level is equally likely to ignite a rally as well.
Traders' Sentiment
It seems that the pair's bulls are preparing to start the new week with a blast. At the moment they account for 48% of market participants, 5% more than yesterday. Shares of pending bullish orders increased by 60% to 40% and is at 90% to 100% overall level depending on the range.
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