© Dukascopy Bank SA
-Scotia Capital (based on the Globe and Mail)
Pair's Outlook
Pair is rather volatile today as it fluctuates between 0.9963/17 for the whole day. At the moment it is supported by Bollinger band/ 100 bar SMA, but it is very likely that pair won't last long and will collapse to 0.99/0.9885, before eventually recovering.
Traders' Sentiment
For the second week bulls are holding overwhelming majority of the positions on the pair—66% of all positions on the pair are long. In addition, distribution of pending buy and sell orders, 58% and 42% respectively, suggest a further domination of the bulls in the market.
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