© Dukascopy Bank SA
"There's a bit of relief that there was a clear result in the U.S. presidential election, it's removed uncertainty which is benefiting pro-cyclical currencies in particular."
- Morgan Stanley (based on Reuters)
Pair's Outlook
Pair appreciated slightly more than 80 pips after receiving a bullish impetus from weekly pivot (S2) at 0.9868. Technical indicators and market sentiment give rather clear signals and it is rather evident that pair is posing for one more attempt to breach parity condition some time soon.
Traders' Sentiment
Regardless of recent and still (possibly) undergoing dip, bulls continue to dominate in the market as they hold 70% of all open positions on the pair. In addition, 63% of all pending positions on the pair are to go long suggesting we might see one more rally if pair drops a bit further.
© Dukascopy Bank SA