© Dukascopy Bank SA
"This is a typical risk-on market, where the yen and dollar are sold. The cliff is behind us for now"
- Loyds Bank (based on Bloomberg)
Pair's Outlook
The Cable sharply appreciated in the last two trading sessions, as the price broke a 16-month high and topped at 1.6380. The upside movement was stopped by the Bollinger band, as the currency pair exchange rate exceeds the Bollinger value around 100 pips in a daily graph. Also, the RSI indicator has already a value of 71, thus bearish positions might be risky.
Traders' Sentiment
Bulls' side recovers and retrieves control in SWFX market, since the buy side reached 76% and the sell side shrunk till 24%. Pending orders' segment still remains bearish, as 42% of placed orders are buy and 58% are sell.
© Dukascopy Bank SA