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- FX Prime Corp. (based on Bloomberg)
Pair's Outlook
The pair is driven by an upward momentum, yesterday the price rose to weekly R1 at 0.9774. Investors continue to push the price of the U.S. Dollar higher, the most preferable currency in comparison with its major counterparts at the moment. The closest resistances are at 0.9855, where the Bollinger band is positioned, and at 0.9930, where the weekly R2 is situated.
Traders' Sentiment
The vast majority of traders in the market are bearish, since 74% of positions are short. As the pair is at a multi-month high, traders speculate about a potential retreat. Pending orders market is bullish with 57% of buy orders.
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