© Dukascopy Bank SA
"Third-quarter GDP growth looks set to improve on the 0.7 percent rate recorded in the second quarter, with the orders figures suggesting this momentum will be carried through into the fourth quarter. We struggle to see bank rate remaining at 0.5 percent for the next three years."
- ING Bank NV (based on Bloomberg)
Pair's Outlook
Pair demonstrated strong bullishness yesterday, but did not manage to advance above weekly R1. However, the pair remains above the uptrend (since 9th of July) support. Failure here could easily provoke losses to the 1.51 with interim target at 1.5374. However, if this support prevails we could expect the pair to move along it up to 6 month high at 1.575.
Traders' Sentiment
Market itself became noticeably more bullish. Share of bulls in the market increased by 7% and at the moment they account for 40% of market participants. Bears, however, are preparing for an attack as 66% (+7% since yesterday) of pending orders are bearish.
© Dukascopy Bank SA