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    Euro rebounds on weak Yen

    © Dukascopy Bank SA
    "The four installments for the IMF in June are €1.6 billion. This money will not be given and is not there to be given." 
    - Nikos Voutsis, Greek interior minister (based on WBP Online)


    Pair's Outlook 
    The Euro suffered small losses against the Japanese Yen yesterday. Neither the closest resistance, nor the support levels were even reached during the trading session, as the pair settled at 133.40. Several strong support levels lie between 131.00 and 133.00, suggesting the Euro is to resume the bullish trend. As a result, we expect a small hike today, with immediate resistance retaining its position around 134.62, represented by the 20-day SMA and weekly PP. Meanwhile, technical studies keep showing mixed signs. 

    Traders' Sentiment 
    Bulls and bears returned to their last Friday's perfect equilibrium. At the same time, the share of commands to buy the Euro added six percentage points. Purchase orders now take up 35% of the market.
    © Dukascopy Bank SA

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