© Dukascopy Bank SA
"Core is basically in line with expectations and that's enough to make them think the best direction for rates is to keep them on hold. Core is the operational guide for the bank and I think that's close enough to their forecast that doesn't provide them with enough of a reason to jump off at this point."
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
Pair failed to consolidate above the August high last week, but maintains bullish bias and has tested it once more today. We expect it to be breached in the nearest future which would put July high on the map. In case of a failure we expect that the pair will find support with weekly PP at 1.0511.
Traders' Sentiment
Bulls continue to hold overwhelming majority (71%) of open positions on the pair. Bullish side of pending orders, however, contracted by 10% and is at 51% gauge today.
© Dukascopy Bank SA