- UniCredit (based on Bloomberg)
Euro rebounded on Friday, after the pair stumbled for two days, but the gains were equal to the previous day's slump. Nevertheless, the pair seems to be following an upward trend with minor fluctuations on the way. The pair is unlikely to breach the closest resistance level, represented by the monthly PP and September 2014 low around 135.94. Nearest resistance is now settled at 135.04, from which the pair is supposed to bounce back in case of a plunge.
Market sentiment is barely taking the positive side among the SWFX traders, with only 51% of all open positions being long. Meanwhile, buy and sell orders are in perfect equilibrium, just as was reported on Friday.