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"The job market is one of the brighter parts of the economy. We've been surprised at how strong payrolls have been in relation to the overall economy."
- Bank of America Corp. (based on Bloomberg)
Pair's Outlook
After trading around the 55-day SMA pair received bullish impetus from it and at the moment is testing weekly R2 just below the 0.96 level. Pair is likely to maintain the bullish trend (indicated by the short term technicals). However, it is likely to continue in the start of a new trading week. For the time being pair should trade around 0.96, with some probability of short term sell offs till 0.952.
Traders' Sentiment
The situation in the market remains largely unchanged. 55% of all open positions belong to the bulls. The only difference is a marginal (3%) increase in the share of pending orders posted by the bears (52% in total).
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