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"The rebalancing of the economy that the RBA is trying to engineer may require some further help from monetary policy early next year."
- Citi Group (based on The Wall Street Journal)
Pair's Outlook
Pair has been demonstrating very choppy sessions almost for a full week. Not an exception is this day as pair has been very volatile and was contained only by 20 bar SMA in lower end and by Bollinger band in higher end. Due to neutrality in majority of indicators it is likely we will see similar sessions in the new week as well.
Traders' Sentiment
After a 12% contraction in amount of bulls in the market, bears are holding overwhelming majority in the market accounting for 75% of all market participants. Distribution of pending orders suggest bulls might regain some share of the market as amount of long orders constitute 53% of all pending orders.
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