© Dukascopy Bank SA
- Societe Generale (based on Reuters)
Pair's Outlook
Pair seems to be forming a 2013 high as it took a step back form it's rally at weekly and monthly R1. However, even if this is going to be the 2013 high we do not expect that a sell off will follow it. The pair should remain above weekly PP. In case of an unexpected failure there, the pair should fall till weekly S1/2009 high. Peak above 141.96/142.48 would put weekly R2 on the map.
Traders' Sentiment
Bullish side of pending orders decreased by 11%. It seems that this decrease went in to the open positions as bullish side of them increased by 4% and is at 40% gauge today.
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