- IG Securities (based on WBP Online)
The single European currency advanced and ended Friday's trading session right on the monthly S2 at 129.84. Most recently, the pair has been extending its gains; however, ECB's President speech later today might turn the tide for the Euro. The technical studies are only bolstering a bearish outcome, suggesting a decline towards the weekly PP at 129.55. At the sam time, if Mario Draghi's testimony in Brussels turns out to be hawkish, the Euro might advance up to 131.16.
There are more bulls (59%) than bears among the SWFX traders, whereas the buy orders take up 71% of all the pending commands in the market.