© Dukascopy Bank SA
- Royal Bank of Canada (based on Reuters)
Pair's Outlook
The Greenback slipped below the weekly R1 at 1.0961 today, after reaching towards the major level at 1.10. The question, whether the pair is ready to break the 1.10 mark in the near term, remains wide open. The previous time when the level was approached was at the very beginning of May and since then the pair has been trading lower. Nonetheless, the monthly technical studies point upwards, suggesting that a movement higher is expected.
Traders' Sentiment
The latest pair's developments has decreased the amount of bullish traders, at the moment only a slight majority (52%) of the traders see the pair trading higher. The distribution between the buy and sell orders is quite stable—45% and 55% respectively.
© Dukascopy Bank SA