© Dukascopy Bank SA
-Bank of Tokyo- Mitsubishi UFJ Ltd. (based on SFGate)
Pair's Outlook
Pair started week very confidently, but did not manage to breach resistance levels at 104.50/55 where it received a strong bearish impetus and currently is trading at 103.5. Pair does not seem to have more potential left and is very likely to fall below week opening level around 103/103.13.
Traders' Sentiment
Short traders continue to hold slim majority in the market—52% of all open positions on the pair are short. However, amount of pending buy orders is increasing, 57% at the moment, suggesting a possible major shift in market sentiment in the future.
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