- Sumitomo Mutsui Trust Bank (based on Bloomberg)
The turned somewhat on yesterday, therefore leading to weaker Greenback and uplifted EUR/USD cross. The rally exceeded 100 pips and was stopped by the first monthly resistance, as it had been expected. We are not ruling out a setback on Thursday and a correction to the downside, while even the daily indicator assumes the pair became overbought on the basis of 24 hours. However, in case the bulls manage to push EUR/USD beyond 1.1227 and close there, then next goals will be two major downtrends around 1.1330.
Only one percent was lost on the side of open positions, down to 41% from 42%. Alongside, pending orders continue to support a rally of the Euro in 54-51% of cases depending on the range from the spot.