© Dukascopy Bank SA
"The new code is an important contribution to strengthening internal audit's role in improving the management of risk, in response to the financial crisis and more recent examples of failure to exercise proper control."
- Roger Marshall (based on Reuters)
Pair's Outlook
Pair started the week with mild appreciation, but today it dipped by more than 50 pips. Lack of strong and conclusive readings suggests that pair should be driven by market sentiment which is becoming increasingly bearish. Taking in to account lack of strong support levels and the gaps between them we are facing with substantial downside risk of the pair.
Traders' Sentiment
The gap between bulls and bears narrowed as 3% of long traders switched sides and at the moment they account for 57% of all traders. Pending orders, however, suggest that bulls continue dominating in the market as 58% of them are to go long.
© Dukascopy Bank SA