© Dukascopy Bank SA
- Mizuho (based on Bloomberg)
Pair's Outlook
Through last three trading days the pair has little changed, it is trading in range from the weekly PP at 138.42 to the 20-day SMA at 138.56. Even though there have been some breakouts to the south the weekly S1 at 137.90 together with the major level slightly higher has managed to slow down pair's bears. Nevertheless, the daily and weekly technical studies are still to the downside, suggesting that some additional decline might be expected in the short run.
Traders' Sentiment
The difference between the amounts of long (53%) and short (47%) positions remains negligible, meaning the sentiment is still neutral. Concerning the buy and sell commands placed, their numbers are almost identical at the moment (52%/48%).
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