© Dukascopy Bank SA
- HSBC Trinkaus & Burkhardt AG (TUB) (based on Bloomberg)
Pair's Outlook
Pair is showing significant bearish sentiment as it lost 120 pips in the last of few days after receiving impetus from the weekly PP. This move is reflected in the short term technicals which changed the aggregate signal from positive to neutral. As Bollinger band/weekly S2 is unlikely to stop the pair on its own, we should see it trailing to the 55-day and then , most likely till 100 and 200-day SMAs.
Traders' Sentiment
Although market remains mostly controlled by the bears, bulls made significant moves yesterday. Bulls strengthened their presence by 4% and at the moment they account for 40% of market participants. In addition to this, only 53% (-4% since yesterday) of pending orders are in favour of the bears.
© Dukascopy Bank SA