- Toronto-Dominion Bank (based on Bloomberg)
Downside risks for the Euro are on the table, considering that EUR/USD has tumbled for a fifth day in a row on Thursday. The bears are still unable to penetrate the 1.11 , with gains contained mainly by the weekly S1 and 20-day . From here we foresee a rebound on Friday, even though the first formidable resistance at 1.1238/46 (weekly PP ; monthly R3) seems to be out of reach over the next 24 hours. Alongside, a drop below 1.1098 will put at risk the 200-day (1.1049) and success here will expose the three-month uptrend at 1.0923.
For a third consecutive day the advantage of the short market participants over long traders is unchanged at ten percentage points, while orders are also slightly (52-53%) on the Euro .