© Dukascopy Bank SA
-Ray Attrill, National Australia Bank (based on The Wallstreet Journal)
Pair's Outlook
Pair bounced from 200 day SMA/weekly S1 at 1.0342/36 today, but monthly PP at 1.0372 holds the pair on point for now. As stochastic indicator sends buy signal we should see a price correction action on the pair in the short term.
Traders' Sentiment
Bearish sentiment persists for the third week and remains at 57% mark, the same as yesterday. Distribution of pending orders shows some confusion amongst traders as they have posted equal number of buy and sell orders.
© Dukascopy Bank SA