© Dukascopy Bank SA
- Jeffereies (based on CNBC)
Pair's Outlook
Pair seems to be trading sideways for the third day in a row and all of it evolves around the 200-day SMA. Although pair seemed relatively weak yesterday, today's recovery suggest that we might still see a rally from the pair. However, it is very likely that pair could breach 1.325, which should stop all of the rallies in the short and medium terms. Dips should not fall below the 1.30.
Traders' Sentiment
Situation in the market seems to have stabilized. 54% of traders remains bearish on the pair. Distribution of pending orders changed just a little bit—56% (-1% since yesterday) are set to go long on the pair.
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