© Dukascopy Bank SA
- Economic consultants (based on Reuters)
Pair's Outlook
Pair started the week above the last weeks closing level and at the moment seems to be trailing lower. September high, is not a key resistance and is not directly blocking higher levels. As a consequence we could see the pair peaking to 135.39 once more. Advancing above it would be a challenge for the bulls. Weekly PP is keeping the pair supported at the moment, but could easily fail to do so in the nearest future. That could send the pair trailing to 133.7 and to 132.7 afterwards.
Traders' Sentiment
Share of bulls in the market increased by a few percent during the weekend and at the moment they hold 65 of all open positions. Overwhelming majority (76%) of pending orders, however, remains in favour of the bulls suggesting that situation could change substantially very quickly.
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