© Dukascopy Bank SA
"Fed uncertainty, mixed messages on the U.S. economy and U.S. interest rates below recent peaks gnawed at the greenback. Minutes that suggest the economy is not quite in taper shape would leave the greenback vulnerable."
- Western Union Business Solutions (based on Reuters)
Pair's Outlook
Despite the recent bearishness, the pair found support with the 6 month low. It helped the pair to recover most of this weeks losses and should push it through the 20-day SMA. If the pair manages to do so, we should start paying closer attention to the 55 and 200-day SMA area. In case 20-day SMA fails the pair it might dip to the 6 month low once more.
Traders' Sentiment
Despite the pair's bearishness in the past weeks market sentiment remains strongly bullish at 71% of traders being long on the pair and 75% of all pending order set in their favour as well.
© Dukascopy Bank SA