© Dukascopy Bank SA
- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
The pair prolonged its decline, which started on Tuesday and by now the 200-day SMA at 139.17 is reached. Depreciation below the major level at 139 is unlikely, in our opinion, the common currency could receive a bullish impetus at the 139 level and then head north. The technicals also support pair's advance as weekly and monthly indicators are largely bullish. We expect a climb towards the major level and monthly S1 at 140.00/140.08.
Traders' Sentiment
The sentiment towards the Euro is split, the number of bullish and bearish traders is completely identical at the moment. At the same time the gap between the buy (42%) and sell (58%) orders is widening.
© Dukascopy Bank SA