© Dukascopy Bank SA
- Citigroup Inc. (based on Bloomberg)
Pair's Outlook
The Euro managed to surpass the major level at 144 today; however, at that point the pair received a bearish impetus that has dragged the pair below the 143 mark. Today's drawback has been on of the few bearish signals lately. Nonetheless, it could also be a short-term correction before approaching new highs. To our mind, it is very critical for the pair to remain above the 142 mark, as a failure to do that could lead to a sell-off towards the major level at 140.
Traders' Sentiment
With new highs in the pair's price there comes new lows in the traders' sentiment, as the amount of bearish traders has increased to 59% from 56% yesterday. In the meantime, the share of buy orders grew from 59% up to 71%.
© Dukascopy Bank SA