© Dukascopy Bank SA
"Germany is still strong and expanding. Growth slowed in the third quarter and the political debate in the U.S. poses some risks to Germany as an export-oriented nation, but I don't think the impact will be significant unless the shutdown continues for an extended period."
- Societe Generale SA (based on Bloomberg Businessweek)
Pair's Outlook
Pairs depreciation at the moment is stalled by the 55-day SMA. Looking at the medium and long term technicals we can say that there is a chance that the pair could start appreciating if it bounces from it. In order to uplift most of the pressure, however, the pair should advance above the 132.3. If the pair dips below 131.4 we could expect that 100-day SMA should provide strong enough support for the pair.
Traders' Sentiment
Bulls are continuing retreating from the market. At the moment they account for 51% of market participants. That is 2% less than yesterday and 5% less than in the end of the last week. Bullish side of pending orders contracted as well. It is at 55% gauge at the moment.
© Dukascopy Bank SA