- Scotiabank (based on Reuters)
Pair's Outlook
The pair has gained rather significantly since the last report, as the Greenback has breached the major level at 1.11. However, for the bullish scenario to remain in effect the pair should strengthen its positions above the 1.11 mark with a close. In case the pair slides below the previously mentioned level then a drawback towards August high at 1.0999 seems likely. Moreover, the weekly and monthly technical indicators are bullish.
Traders' Sentiment
The traders' sentiment has increased to 73%, even though we have witnessed a significant advance in the last three trading days. The gap between the buy (43%) and sell (47%) orders placed 100 pips from the spot has widened.
© Dukascopy Bank SA
© Dukascopy Bank SA