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- Global-info Co (based on FXStreet)
Pair's Outlook
As was anticipated, the European single currency outperformed the Japanese Yen on Friday, with the tough resistance cluster limiting volatility in front of the 124.00 mark. However, the pair managed to stabilise above the 123.00 level, even though there were doubts the exchange rate can climb over this area. Today technical studies keep giving bullish signals, but the Euro is expected to struggle to post more gains, as the 124.00 mark remained unconquered for four weeks now. Moreover, the upper Bollinger band is now bolstering the psychological threshold of 124.00, which can result in a slump back under 123.00.
Traders' Sentiment
There are slightly less bulls than on Friday, namely 53% (previously 54%). At the same time, all pending orders are equally divided between the buy and the sell ones.
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