© Dukascopy Bank SA
- IMF (based The Wall Street Journal)
Pair's Outlook
23.6% Fibo (September rise)/August high held and sent the pair towards the September high it reached just a week ago. Despite the readings of technical indicators, we think that upside beyond 1.356 is rather limited with 1.367 being the possible, but highly unlikely, peak point. If the pair dips below 1.347, we could expect it to trail to 1.339, where the pair should bounce from the 38.2% Fibo.
Traders' Sentiment
Bulls continue to control same share of the market as yesterday (66%). Only noticeable change is in the bullish side of pending orders, it increased form 51 to 56% since yesterday suggesting that bulls see the possibilities to push the pair higher.
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