© Dukascopy Bank SA
"Although Syria tensions continue to linger in the background, risk assets performed well overnight, helped in part by Chinese trade and inflation data released over the weekend."
- Credit Agricole (based on The Economic Times)
Pair's Outlook
It seems that the pair's bullishness after the failure at the 50% Fibo (July-August move), has ended as at the moment the pair is testing 100 and 200-day SMAs. Failure here could provoke a sell off till 0.915 with in between here and then support being at 0.924. Closure above the 100 and 200-day SMAs would put 0.945 on the map once again, but it is too soon to speak if the pair would manage to breach it with ease.
Traders' Sentiment
Distribution of open positions is exactly the same as yesterday-bulls hold 72% of them. Noticeable changed took place in the distribution of pending orders. Share of the ones posted by the bulls increased by 6% and at the moment is at 63% gauge.
© Dukascopy Bank SA