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- ECB President (based on Bloomberg)
Pair's Outlook
For the past 6 days pair is trading in rather tight range—between monthly R1 and weekly PP. Although short and long term technicals indicate strength of the pair it does not seems there is a strong enough catalyst in the market which could ignite a rally. Bounce for weekly PP and some short term rally could be expected, but it is unlikely advance above 1.339, at least for the time being. Dips should find support with 1.318.
Traders' Sentiment
It seems that bears are pushing bulls back out of the market since share of bears in the market increased by 2% and at the moment they account for 63% of market participants. In addition to this, share of pending long orders decreased by 4% and is at 54% gauge today.
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