"Overall, we're still staying mildly bullish in the cross and expect another rise."
— Action Forex (based on Investing.com)
Pair's outlook
The morning session started with the Euro appreciating gradually against the Yen. Currently, the upside momentum has accelerated, moving the rate through two resistance levels (the weekly PP and the monthly R1) and towards the weekly R1 at 124.67. The overall bullish potential today should leave the Euro between the weekly and monthly R1s. In general, the pair has not reach the upper wedge boundary yet, suggesting that this move may be finally concluded during the next trading week. The given level might be a reversal point, as it is reinforced by the upper Bollinger band and the weekly R3.
Traders' sentiment
Market sentiment is almost at equilibrium, as 51% of traders holding short positions. Meanwhile, 58% of pending orders are to buy the Euro.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -2% | -28% | -12% | |
| Orders | 16% | 12% | 6% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Buy | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↑ | ↗ | → | |