© Dukascopy Bank SA
"It's a new week and markets remain firmly gripped by post (Federal Open Market Committee) fever. Risk assets are performing well again and safer bonds are under heavy selling pressure."
-Commonwealth Bank (based on The Australian)
Pair's Outlook
Driven by momentum pair tried to breach summer high at 1.0612, but was firmly pushed back and is currently testing weekly pivot (PP) at 1.0493. Most likely pair will demonstrate bearish correction for few more days and stabilize before continuing to appreciate.
Traders' Sentiment
Although 15% more traders started to hold long positions on the pair after the weekend and bearish sentiment persists as 53% of traders hold short positions on the pair. However, 54% of all pending orders on the pair are buy orders suggesting that sentiment might switch again in the near future.
© Dukascopy Bank SA