© Dukascopy Bank SA
"People in general are already looking for reasons to take profit, simply because the global backdrop remains so uncertain."
-HSBC Bank Canada (based on The Wall Street Journal)
Pair's Outlook
After a temporary setback pair continues to recover after receiving a push from downtrend support (connects 2nd of August and 5th of September highs) at 0.9808. Stochastic indicator suggest that bearish correction on the pair is highly likely in the near term, but this should not influence pair's development much and slowly it should reach cluster of resistance levels around 0.9880.
Traders' Sentiment
Bullish sentiment on the pair became even stronger—75% of all open positions on the pair are long. 58%, the same as yesterday, of all pending orders on the pair are long, which suggests that we should not see much of a change in market sentiment in the near future.
© Dukascopy Bank SA