© Dukascopy Bank SA
"Bond market movements show people are lowering the likelihood of QE3 any time soon."
- Chris Tennet-Brown, Commonwealth Bank of Australia (based on TVNZ)
Pair's Outlook
Pair is caught up between Fibonacci retracement levels at 0.8083 and 0.8074 keeping its outlook neutral. Pair should remain deviating between weekly R1 at 0.8124 and 200day SMA at 0.8039 for the rest of the week.
Traders' Sentiment
Current market sentiment remained in slight favor for the bulls during the course of the weekend and is at 52% mark. However, the allocation of orders shows that 62% of traders have posted sell orders indicating that we might see a major shift in market sentiment in the near future.
© Dukascopy Bank SA