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"More people decided to get out there and view property, and more transactions went through than in quite some time. There is still a very long way to go until we see a full-scale recovery but green shoots are beginning to sprout."
- RICS (based on Reuters)
Pair's Outlook
At the moment pair is facing a major resistance area starting at 1.56 (200-day SMA, Bollinger band and Fibonacci (50% of January to March, 2013, move) retracement). There are no strong indications that pair could advance, at least far, above it. After that we should see pair loosing value all the way to 1.54 (expectations of major market participants indicate 1.52), with brief stops at a minor support levels.
Traders' Sentiment
Market is continuing to become more bullish. Share of long traders in the market increased by additional 2%; 5% in the last few days. And although they still account for less than half (40%) of market participants majority of pending orders (57%) are posted by them.
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