© Dukascopy Bank SA
"The real news overnight were the comments from the Japanese prime ministerial candidate, which has pushed the yen lower and boosted the U.S. dollar. At the same time modestly positive GDP results from the France and Germany could do little to stop the overall European economic zone going into a recession, which didn't help the New Zealand dollar."
- Western Union (based on The Wall Street Journal)
Pair's Outlook
Pair tried to claw back some of its losses, but it seems we are rather likely to see a dip to 200-day SMA average in the near future instead. Main reason for this could be a bearish impetus pair received from 20-bar SMA at 13th of November. If Bollinger band won't manage to provide significant support for the pair we can be certain to see a major dip to 0.8037.
Traders' Sentiment
Outlook on the pair is rather grim as 73%, as for majority of the week, of traders continue being short on the pair. In addition to that, 63% of all pending orders on the pair are to go short as well.
© Dukascopy Bank SA