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"If the Fed announces a rolling, open-ended, bond buying program likely involving both mortgage backed securities and Treasuries...this should elicit at least a mild risk-positive response."
- NAB (based on The Wall Street Journal)
Pair's Outlook
Pair did not managed to hold above 1.05 and it seems we will se a bearish correction which was anticipated by market participants for some time now. It is likely drop will be rather sharp, but support levels around 1.04 should hold on pair there for some time.
Traders' Sentiment
Trader sentiment switched sides today again— at the moment it is bearish as 56% of traders hold short positions on the pair (8% increase since yesterday). However, majority of pending orders on the pair are still buy orders (57% today).
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