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"Short-term interest rates are going to remain at zero for longer than you ever would have imagined."
- Bank of Tokyo-Mitsubishi UFJ.
Pair's Outlook
Pair started the week significantly below/above any of major resistance/support levels. As there is no clear driver behind the pair's moves, we could expect bears to capitalize on their gains thus pushing the pair a bit higher, but it is unlikely it would push the pair through 0.928. It should send the pair trailing to 0.92 and , if breached, to 0.915.
Traders' Sentiment
Bulls continue to control overwhelming majority, 73%, of the market. That is a 3% increase during the weekend, taking in to account the overall number, this could be perceived just as a marginal change. Significant change, however, can be seen in the distribution of pending orders. Although clear majority, 64%, of them are set to go long on the pair, it is 8% less than on Friday.
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