© Dukascopy Bank SA
-Rabobank (based on Reuters)
Pair's Outlook
Pair is continuing bullish rally after receiving a push from Fibonacci retracement (38.2% of 25th of July—17th of September move) at 100.17 yesterday and is trying to step up and breach 102. It is likely pairs advancement will continue until it approaches higher resistance levels at 102.6 and higher.
Traders' Sentiment
For the second day in a row distribution of open long and short positions on the pair are in perfect equilibrium. Amount of pending buy orders on the pair dropped from 75% to 57% today, suggesting uncertainty about pair's future.
© Dukascopy Bank SA