© Dukascopy Bank SA
"Macroeconomic data would be key to determine the future of the stock market. The most important data point is wage growth, declining wages are one of the reasons of a decadelong deflation."
- Matthews International Capital Management LLC (based on The Wall Street Journal)
Pair's Outlook
Pair finished last week and started this one in unusual volatile fashion. Pair's trading range on friday was 130 pips and today it is 90 pips already. Pair is sending clear bearish signals which are supported by the short term technicals as well. It is likely pair will trail so further until it finds support with 97.6 or 96.5.
Traders' Sentiment
Situation in the market remains rather similar to the one we saw in the end of the last week. Market sentiment remains clearly bullish—71% of all open positions are long on the pair and 61% of all pending orders are in favour of the bulls as well.
© Dukascopy Bank SA