© Dukascopy Bank SA
"You would have thought the U.S. dollar will come off a little bit. "The jobs number was a little bit disappointing for the hawks."
- ASB Institutional (based pn Bloomberg)
Pair's Outlook
In the end of the last week it seemed that the pair once again is consolidating above the 200-day SMA. However, it did not manage to prevail against the pressure coming from 20 and 55 day SMAs and lost more than 100 pips before returning below the 93 cents. It gives basis to expect further bearishness of the pai, which is given by short and medium term technicals. However, it is unlikely pair fill fall below 5 month low at 91.4 cents.
Traders' Sentiment
Despite the pressure which came from the bears last week, bulls managed to hold on and at the moment they control 75% of the market. 67% of all pending orders are in their favour as well.
© Dukascopy Bank SA