© Dukascopy Bank SA
-Joseph Trevisani, Worlwide markets (based on Reuters)
Pair's Outlook
Pair has gained and breached double bottom pattern resistance band which formed last week. However, pair is approaching a cluster of resistance levels around 99.16/40 which should drop the pair down closer to weeks opening price at 98.500.
Traders' Sentiment
Traders' sentiment remains bullish, but start of new week suggests we could see major changes in the near future. Traders sentiment dropped by 5% as 57% of traders continue to hold long position on the pair, but in the range of 100 pips 56% of traders have posted sell orders.
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