Dukascopy - Analytics


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    EUR/JPY cuts the weekly gains

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    "Given the headwinds we had from Russia and the euro zone, I think the region is holding up relatively well and growth has been quite resilient." 
    - Neil Shearing at Capital Economics (based on Reuters)

    Pair's Outlook
    The end of the week did not surprised the market since the pair slid a little lower from the last day close at 135.84. The cross continues to trade within the ascending channel formed in January 2015. The 55– day SMA is starting to cross the 100– day SMA as it falls in a greater pace than any other moving average. The Alligator indicator is rather bullish, though.

    Traders' Sentiment
    Half of the pairs' traders still hold the long position amid their positive outlook for the European currency appreciation. Meanwhile, the 50– pip pending orders are placed on the long side for 44% of traders, whereas the 100– pip ones are bought by 51% of all.
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