© Dukascopy Bank SA
"The operating environment in the third quarter remained challenging."
- UBS (based on The Global Post)
Pair's Outlook
Pair seems to be recovering after bouncing from the weekly and monthly S1, consequentially forming October low. At the moment it is testing weekly R1. We do not expect it to be an easy thing to do, we might see a minor setback but overall trend should remain bullish. Next question would be how easy the pair will advance above weekly R2/55-day SMA. In case of an unexpected failure we expect the pair to find support at 0.8899.
Traders' Sentiment
Pending orders returned to the same, 69%, level it started the week with. Market sentiment itself remains at 71% of traders being long on the pair which is the same level since the start of the week.
© Dukascopy Bank SA