© Dukascopy Bank SA
- Royal Bank of Canada( based on Reuters)
Pair's Outlook
Even though the pair has fluctuated in a relatively wide range through this week at the moment it is trading almost at the same level were it opened on Sunday. We think that the pair's appreciation is more likely, since the pair has bounced back from yesterday's and today's lows around the 55 and 100-day SMAs at 1.0845/39. At the mean time, the technical studies are largely neutral, thus a sideways trend is also a possible scenario.
Traders' Sentiment
The sentiment has not changed since yesterday and what is interesting, it has also returned to the level seen at the beginning of the week, namely 72%. At the same time the gap between the buy (61%) and sell (39%) orders has widened this week..
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