© Dukascopy Bank SA
- Cambridge Mercantile Group (based on Reuters)
Pair's Outlook
The pair is stuck between the monthly S1 and weekly PP at 1.0859 and 1.9001. This week we have seen rather low volatility from this currency pair, thus there has been just a slight decline. We expect the greenback to receive a bullish impetus and to break the weekly PP. At the same time the technical indicators are largely mixed; therefore, pair's movements are harder to forecast and that is discouraging the traders.
Traders' Sentiment
Bullish side of open positions returned to 69% level today; down from 71% yesterday. However, the distribution between the buy and sell orders is very stable—49% and 51% respectively.
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