© Dukascopy Bank SA
- Banco Bilbao Vizcaya Argentaria SA (based on Bloomberg)
Pair's Outlook
The Europe's common currency is challenging the weekly and monthly PPs at 136.78/85. The next target level for the bullish traders is the major level at 137 and even though this resistance seems strong we are optimistic on the pair breaching it. However, the technical indicators do not give any clear signs as they are mixed for the time being. In case the pair breaks the previously mentioned major level then the 20 and 50-day SMAs are likely to be tested.
Traders' Sentiment
The sentiment remains more or less the same as yesterday, as 54% of the SWFX traders are bearish on the pair. The distribution between the buy and sell orders is far less stable—32% and 68% respectively.
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