© Dukascopy Bank SA
-Shinkin Asset Management Co. (based on Bloomberg Businessweek)
Pair's Outlook
As predicted pair tried to reach new high, but did not manage to breach cluster of resistance levels at 103.65/104.05 for long and is currently hovering slightly above 103.13/103, after peaking to 104.139. This rebound should continue at the start of new weak where pair should drop to 102.57/47 maybe even 101.82/61 in first few days.
Traders' Sentiment
Uncertainty in the market is continuing as equal shares of traders hold long and short positions on the pair for the second day in a row and third day this week. Distribution of pending orders suggest that bulls might manage to gain a bigger market share since 62% of all pending orders on the pair are to go long.
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