© Dukascopy Bank SA
"Draghi wants everyone to know they'll willing to address those issues, but just talking is not really going to move markets."
- Mizuho Financial Group Inc. (based on Bloomberg)
Pair's Outlook
Last week the pair lost approximately 100 pips and fell below the 20-day, 55-day and 100-day SMA. However, this week has started with a slight appreciation and at the moment the pair is trading around the weekly PP at 140.81. We expect the currency pair to extend its advance and to break the 55-day SMA at 141.05 and possibly also the 100-day SMA at 141.23.
Traders' Sentiment
The sentiment towards the idea that the shared currency will appreciate has remained unchanged for a third straight day and it is still at 46%. The distribution between the buy and sell orders is also rather stable—44% and 56% respectively.
© Dukascopy Bank SA