- HIS Global Insight (based on CNBC)
The Euro experienced some volatility on Friday, ultimately dropping 26 pips against the Yen. Even though losses were limited by the monthly PP, the 136.00 major level was still pierced. Nonetheless, a slight rebound over the weekend proved the importance of the given psychological level; whereas technical studies remain mixed, suggesting the given pair is to remain flat today. The 55-day SMA keeps providing immediate resistance, while the monthly PP is limiting the downside volatility for the last day.
Bulls and bears reached a perfect equilibrium today. At the same time, the portion of orders to acquire the single currency lost 29 percentage points, now taking up only 28% of the market.