© Dukascopy Bank SA
- Scotiabank (based on Reuters)
Pair's Outlook
Surprisingly, resistance at 1.0116/02 was overcome sooner than expected, but the trend is still evolving according to previous estimations. There are a few dozen of pips until a collision with a rising resistance line and this level (1.0159/40) is anticipated to withstand persistence of those willing to acquire the greenback, triggering a sell-off.
Traders' Sentiment
The number of bulls (56%) is rapidly falling, presumably because traders are taking profits on their long positions, whereas a growing amount of SWFX marketplace participants reckon that the price has reached the top. Additionally, the share of buy positions (66%) has plummeted as well.
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