"Growth in bank loans to euro zone companies set a fresh post-crisis high in April."
— Andreas Framke (based on Reuters)
Pair's outlook
The Euro's plunge on Friday was halted by the 20-day SMA around 124.10. The given level provided support in this session as well, stranding the rate between the weekly PP at 124.82 and the above-mentioned SMA. Intraday trading signals suggest that the pair may meet strong resistance cluster formed by the 200-hour SMA and the upper Bollinger band apparent on the hourly chart, setting a possible upside limit at 124.63/65. Thus, it should be expected that the Euro remains within the 124.07/82 territory today. During the following days, the rate may re-test the 125.40 area or, conversely, stop at the weekly PP prior to breaking through the nearest level of support.
Traders' sentiment
Market sentiment remains bearish, as 41% of open positions are short. Additionally, 39% of pending orders are to sell the Euro.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -18% | -24% | -18% | |
| Orders | -22% | 6% | -6% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↘ | |