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"Respondents linked this latest improvement to rising new business both domestically and from export markets."
- Investec (based on the Irish Times)
Pair's Outlook
After a week or so of sessions with significant (100 pips and more) moves pair seems to be calming down. Last 3 days it has been trading in 80 pips range. As pair is trading in the upper limits of the Bollinger band and the Stochastic indicator sends sell signal it is highly likely we will see a bearish correction. Aggregate readings suggest that pair should remain in rather tight range in the nearest future.
Traders' Sentiment
Bears continue to increase the gap against the bulls, who control 41% of outstanding positions in the market; 2% less than yesterday. It is rather unclear about the further developments as pending orders are equally divided between the bulls and the bears.
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