- BTMU (based on FXStreet)
The European currency behaved exactly with accordance to expectations on Monday. The 137.00 major level limited the volatility to the upside, while the pair closed at 136.70, the immediate resistance. The Japanese fundamental data is to influence the pair's movement today. The 137.00 major level is considered to be a ceiling today, while the risks of falling back to 136.00 also persist, especially if the weekly R1 resistance proves to be too hard to breach. Technical studies retain their mixed signals, unable to confirm either scenario.
Market sentiment has reached a perfect equilibrium, whereas the number of purchase orders increased from 40 to 72%.