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- Nomura Holdings Inc. (based on Bloomberg)
Pair's Outlook
Wednesday trading day revealed the first daily green candle since the consecutive decline from the end of the December. Rising almost 88 pips from the daily open at 140.766, the pair ticked up higher to 141.668. However, did not continue the move and failed to surpass the20– day SMA level at 141.752. Currently, the pair is struggling to go beyond the monthly S2 at 141.390, forming a potential bearish flag pattern. Today's move looks like to be a start of a short– term consolidation, before continuing the depreciation.
Traders' Sentiment
The most certain forecast coming from some major indicators is viewed on a weekly period as the sentiment is highly bullish. Regarding the market itself, 50-pip pending orders are placed in 63% of the case, while 54% are shorting the pair in a 100-pip range.
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