© Dukascopy Bank SA
- Morgan Stanley (based on The Financial Times)
Pair's Outlook
After mildly negative day yesterday pair picked up pace up again and it testing the limits of Bollinger band at 106.6. Although we are seeing aggregate neutral reading from technical indicators, Stochastic indicator suggests we should see a bearish correction in the near future.
Traders' Sentiment
Short traders have gained more ground and at the moment constitute for 60% of all market participants. Distribution of pending orders point at completely the opposite—60% of all pending orders on the pair are to go long.
© Dukascopy Bank SA