© Dukascopy Bank SA
- Morgan Stanley (based on Bloomberg)
Pair's Outlook
At the moment the Euro is challenging the weekly R2 at 137.76, after breaking the monthly S1 at 137.59. Moreover, if the weekly R2 is broken there are still important resistance levels ahead. Namely, the major level at 138 and slightly higher the weekly R3 and 55-day SMA at 138.18/27. Meanwhile, the technical indicators are mixed, and the monthly technical studies point to a possible advance in a longer time frame.
Traders' Sentiment
The sentiment has returned to less bearish levels from being strongly bullish yesterday. 59% of the SWFX traders expect the Euro to depreciate relative to the Yen. The distribution between the buy and sell orders is the same—41% and 59% respectively.
© Dukascopy Bank SA