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"Confirmation of continued economic recovery in the U.S. could further increase bets on early quantitative-easing tapering by the U.S. Fed and hence further aid the dollar."
- ICICI Bank (based on MarketWatch)
Pair's Outlook
Pair has recovered almost all of this weeks losses, but struggles with the 55-day SMA, the level which caused the losses at the first place. At the same time it is questionable if 20-day SMA will be able to provide enough support and keep the pair stable at least in the nearest future. All in all, pairs outlook is mildly bearish.
Traders' Sentiment
Bears took a noticeable blow today. Yesterday they were holding 34% of all open positions, today they account only for 27% of market participants. Pending orders remain in the same distribution as yesterday, 60% set to go long and 40% to go short.
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