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- Niels From, Nordea (based on Reuters)
Pair's Outlook
Pair is approaching last weeks high at 97.812 and it is evident that 55 day SMA could introduce enough resistance and stop pairs advancement dropping it to 97.00 and giving start to rectangle pattern formation.
Traders' Sentiment
Traders' sentiment hasn't changed since yesterday and remains bullish as 67% of market participants are presently long on the currency pair. In addition we can expect a strengthening in the sentiment as in the range of 100 pips from current price 65% of traders have posted buy orders in comparison to 51% yesterday.
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