© Dukascopy Bank SA
- Rabobank (based on Reuters)
Pair's Outlook
After posing for a major rally pair did not manage to breach 20-day SMA barrier and has lost 160 pips since then. As pair is rather volatile for a second day in a row and technical indicators give neutral outlooks we should see at least few more choppy sessions, but general, downward, slope should remain.
Traders' Sentiment
Pair has undergone one more major swing in market moods—at the moment bulls hold 63% of all open positions on the pair. Distribution of pending orders suggest this positioning should persist for some time now as 65% of all pending orders on the pair are to go long.
© Dukascopy Bank SA