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"There's a good deal of event risk on the agenda but for now even the euro bears are reluctant to be too bearish."
-CIBC (based on Reuters)
Pair's Outlook
Pair has easily advanced towards 100, however was stopped by monthly pivot at 100.206 and currently hovers on the Bollinger band at 100.07. It seems that pair lacks momentum to advance further at the moment and it is likely we will see a pullback towards weekly PP at 99.501.
Traders' Sentiment
Pairs sentiment switched sides for the third time in last week. Today it is bullish as 52% of traders hold long positions on the pair. In the future this sentiment might strengthen significantly as 67% of all pending orders are buy orders.
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