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"Obviously, the closer you get to Oct. 17, it's something that can force the deal and get more optimistic comments. The dollar's been recovering against the yen. Risk assets will probably do OK in this scenario."
- Deutsche Bank AG (based on Bloomberg)
Pair's Outlook
20-day SMA has stopped the pairs decline father it plummeted form the 1.042 and seems to be continuing to support it further. In case it actually dips below the 20-day SMA, it would put the crucial support at 1.024 on the map. In orders to uplift most of this downside pressure the pair not only should peak above 1.038 but 1.042 as well.
Traders' Sentiment
We are noticing further signs of bearishness in the market as share of bulls decreased by further 2%, 5% in the last few days. However, they still hold overwhelming majority (71%) of all open positions in the market. Exactly the same share of pending orders (64%), however, remain in favour of the bulls.
© Dukascopy Bank SA