© Dukascopy Bank SA
"The U.S. risks being forced to incur widespread delays of payments to suppliers and employees, as well as social security payments to citizens - all of which would damage the perception of U.S> sovereign creditworthiness and the economy."
- Fitch (based on The Globe and Mail)
Pair's Outlook
After the pairs failure at 1.042 last week it seems it is being capped by the 55 and 100-day SMAs in the upside and 1.034 in the downside. If the pair once to advance further, it has not only advance above the mentioned SMAs but breach weekly R1 as well. That would put weekly R2 in the map. However, in case it dips below 1.031 we could expect it to trail to 1.018.
Traders' Sentiment
Bulls are not willing to give up easily. They increased their share of the market up to 74%, by 3% since yesterday. Bullish side of pending orders remains at 64% which suggests that bulls should continue dominate the market in the nearest future.
© Dukascopy Bank SA