© Dukascopy Bank SA
"Attention is on the payrolls report, and the dollar is in focus. The number needs to be very, very good to change the market perception of the impact of the shutdown. With the focus on U.S. monetary policy, many people have changed their expectations regarding the Fed's stimulus and that means a weaker dollar."
- Commerzbank (based on Bloomberg)
Pair's Outlook
Pair demonstrated some bullishness, but received a bearish impetus from the 200-day SMA. It remains supported by the 1.2075, but it is questionable how long that will last. Dip below it could cause the pair to trail to 1.0182. In order to advance most of this downside pressure the pair could advance not only above the 200-day, but 20-day SMA, as well.
Traders' Sentiment
Situation in the market remains exactly the same as yesterday. Bulls continue to hold 71% of all of al, open positions in the market. Bullish side of pending orders, after a 13% decrease during the weekend, remains 56% level today.
© Dukascopy Bank SA