© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
After Friday's major advance the pair is trading steadily around the 2013 high at 1.0738. The good news for pair's bulls are that the Greenback managed to hold its positions above the 1.07 level. Nonetheless, at the moment it seems that the pair lacks a bullish driver to appreciate higher. We are bullish and we expect the U.S. currency to climb towards the 1.08 level during this week, if it does not weaken below the 1.07 mark in the next days.
Traders' Sentiment
The pair's bulls lost 5 basis points compared to Friday; however, still 70% of the SWFX market participants are long. The gap between the buy (58%) and sell (42%) orders placed 100 pips from the spot is less significant for now.
© Dukascopy Bank SA