© Dukascopy Bank SA
- Bank of New York Mellon (based on CNBC)
Pair's Outlook
The pair closed below the monthly PP at 1.0965 yesterday and that provoked the bearish traders to start a selloff. At the moment the greenback trades just above the major level 1.0900; nonetheless, we do not expect the pair to fall any lower than the monthly S1 at 1.0859. All in all we see the pair recovering, it should appreciate towards the weekly R1 and 55 and 100-day SMA at 1.1032/41. The uncertain technicals will not help the advance; therefore, some drawbacks are expected.
Traders' Sentiment
Market sentiment remains unchanged as bears continue to hold 54% of all of the open positions on the pair. In the meantime, the share of buy orders grew from 63% up to 66%.
© Dukascopy Bank SA