© Dukascopy Bank SA
The better-than-expected nature of the data is considered taper-positive. The dollar is getting a solid fundamental boost. Nothing in the data subtracts from expectations of a September taper."
- Western Union Co. (based on Bloomberg)
Pair's Outlook
Pair appreciated 100 pips yesterday and seems to be consolidating above the 200-day SMA and aiming at 55 and 100-day SMAs. It is unclear how long this bullish momentum should persist but it is clear that mentioned 55– and 100-day SMAs/Fibo 38.2% (end of May to mid of June move) area is not willing to surrender easily. Consolidation above it would open the path to 0.95.
Traders' Sentiment
Bears took some of the market (3%) back under their control, but bulls continue to hold overwhelming majority (69%) of all open positions. Pending bullish orders remain at the same, 73%, gauge as yesterday.
© Dukascopy Bank SA