Due to release of negative data on the US Core Retail Sales, the Euro caught an upside momentum, which lasted until the pair met a resistance in the 1.1985-95 area. At the moment, the currency rate is located near the updated weekly PP at 1.1938, being squeezed between the 200- and 100-hour SMAs. Accordingly, an aggregate of technical indicators sends neutral signal. This fact plus the traditional Monday’s inactivity suggests that the pair is unlikely to make major advances today. However, generally, the pair is expected to make attempt to break through the above resistance towards the new weekly R1 at 1.2039. On the other side, an average market sentiment remains 65% bearish, which means that in case of a new rebound bears might try to drag the rate down to the monthly PP at 1.1881
