© Dukascopy Bank SA
- Italian Trade Agency (based on Bloomberg)
Pair's Outlook
The Euro has fallen below the major level at 137, after trading above it since 30th of July. If the pair extends its decline then the monthly S1 and 2014 low at 136.23 will be reached soon. However, to our mind around these levels there could be a slow-down. The fact that the pair is sliding closer to the bottom part of the trend line (around 135.95) is also increasing the probability of a rebound or consolidation. The technicals are mixed, thus they do no brighten the overall outlook.
Traders' Sentiment
If just yesterday the pair's bulls were in a slight minority then today we are seeing a different picture. At the time of writing 55% of the SWFX market participants expect the Euro to climb versus the Yen.
© Dukascopy Bank SA