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"The Asmussen comments have aided the decline of the euro. It appears that Asmussen is trying to make sure markets keep new ECB easing on the table."
- RBS Securities (based on The Wall Street Journal)
Pair's Outlook
Pair did not manage to advance above the 1.29 mar, received bearish impetus from it. The sell off, however, was stopped by the 2013 low at 1.274 and at the moment the pair is trading at the 30-month low at 1.279. Although the Stochastic indicator suggests a turnaround in the pairs development we would think that it should stay in the boundaries of an accelerated downtrend which started on the 19th of June. Short term rallies should remain capped by the 1.29.
Traders' Sentiment
Bulls and bears are starting some sort of "forwards-back" game. Bulls returned to the 53% market share it had few days ago. And pending long orders returned to the 52% level. Also what it was few days ago.
© Dukascopy Bank SA