© Dukascopy Bank SA
- BNP Paribas 9based on the Wall Street Journal)
Pair's Outlook
In the period of last 7 days, on any given day stayed in 120 pips range. Overall range of the same period does not exceed 160 pips. Short and medium technical indicators suggest that pair should continue to behave the same for some time. It is like that a selloff by bulls will follow afterwards and, as long term technicals suggest, pair is likely to start climbing again.
Traders' Sentiment
Bears maintain their influence in the market. The share of outstanding positions they are holding shrank by 1% and is at 62% gauge. Pending orders, however, are in favour for the bulls. 57% of all pending orders were posted by them.
© Dukascopy Bank SA