© Dukascopy Bank SA
- Berlin's Free University (based on Reuters)
Pair's Outlook
After a sharp reversal last week it seems that the pair is consolidating at 1.30. As short to medium term technicals do not give clear indications it is pretty safe to assume we should see some choppy sessions in the future; sell offs should find support with 1.30; short term rallies should be capped by Fibo 38.2% (mid-may to mid-June rally) and recent high at 1.3178/206.
Traders' Sentiment
Weekend brought some clarity in to the market sentiment. Bears now hold majority, even if slim, (52%) of all open positions on the pair. Majority (55%) of pending orders are set to buy the single currency against the greenback.
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