© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
The advance that we saw at the beginning of the week suggested that the Europe's currency have gained a bullish impetus and is poised for a further appreciation. However, today, due to the informational shock, the pair plummeted below the weekly and monthly PPs at 136.95/85. An important level is July low at 136.37, as this level has been a reliable pair's support during the last couple of months, thus a drop below the level could initiate a sell-off.
Traders' Sentiment
After yesterday's jump in the sentiment to 59%, it has returned to more familiar level—35%. Concerning the orders placed 100 pips from the spot, there are now considerably more commands to buy—namely 59%.
© Dukascopy Bank SA