- Bank of Tokyo-Mitsubishi (based on WBP Online)
EUR/USD eased for a fourth consecutive working day on Wednesday, but scope of losses remains insignificant. We are still waiting for a testing of the 38.2% of this month's earlier uptrend at 1.1145, which is backed by the 20-day nine pips from below. Within the the long-term goal of the bears is 1.09 where they are going to meet the lower bound of it. On the other hand, aggregate daily indicators maintain a bias, while the 55-day will today cross the 200-day to the upside and will indicate to potentially improving conditions for the Euro .
The bears are holding a 12 pp majority over their counterparts, while pending orders in both 50 and 100-pip ranges rebounded above 50% for the side.