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-BNP Paribas (based on Market Watch)
Pair's Outlook
Pair rebounded from Bollinger's band at 100.576 and is back below 100. Cluster of resistance levels above current price and technical indicators suggest that this bearish correction should last for few more days. However, weekly PP at 99.501 should provide enough support and keep pair in tight range.
Traders' Sentiment
Trader sentiment today is bullish as 53% of traders hold long positions on the pair. Amount of pending buy orders increased further and currently is at 75% mark, suggesting we might see a rally once pair breaches some major level.
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