- Shinkin Asset Management (based on Bloomberg)
The common currency was actively fuelled by at 1.1241/20 on Thursday. It managed to bounce off the monthly , but gains used to be contained by the 50% of the Jan-Mar 2015 downtrend at 1.1280. Still, an attempt to surge as high as 1.1328 was made, and we expect the bullishness to continue in the nearest future. Resistances to violate include the weekly R1 at 1.1304, and success here can send EUR/USD up to the 1.14 area during the next week. This idea is supported by weekly technical indicators.
The share of bulls fell from 49% to 47% in the past 24 hours, while long pending orders in 100-pip range from the spot price improved further from 54% to 58%.