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"From the market's point of view, this is a Goldilocks scenario — good enough to provide reasonable growth in corporate revenue but not strong enough to trigger more than a mild tapering in the Fed's asset purchase programme."
- CMC Markets (based on Business Day)
Pair's Outlook
Pair started the week passively, but dipped by 80 pips after receiving a bearish impetus from 20-day SMA/weekly pivot (PP) earlier today. At the moment it is being supported by weekly pivot (S1). Technical indicators suggest that pair should depreciate further in which case attention should be paid in to dips below 1.02. It is likely that most pending orders to go long are placed there as a dip on 3rd of April shows.
Traders' Sentiment
Bulls are gaining against the bears, but they remain highly unrepresented in the market as they account for 31% of market participants. It seems that bulls might continue gaining on the pair as 54% of pending orders are to go long as well.
© Dukascopy Bank SA