© Dukascopy Bank SA
"We spend so much time waiting for the next Cyprus or the next Greece that sometimes we can't simply see the good news. There's a lot to be said about euro being a default asset at the moment if we're worried about a slower Asia and if it's not clear to us whether the Fed is going to be tapering sooner or later."
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Pair started the week rather passively and at the moment is hovering above the weekly PP at 1.330. Technical indicators suggest that that it might give bullish impetus to the pair and send it higher. In such case major resistance area which should not be breached is at 1.343. It should send the pair back to the 1.33 area in the medium term.
Traders' Sentiment
The perception of the situation in the market has not changed a bit during the weekend. 63% of traders remain bearish towards the pair. At the same time, pending orders remain almost evenly distributed between the long and short.
© Dukascopy Bank SA