© Dukascopy Bank SA
- Rabobank (based on Reuters)
Pair's Outlook
Despite the minor bullish sentiment early in the session yesterday, pair did not manage to advance above the weekly R1. Bearish impetus given by it pushed the pair below the cluster of technical levels at 132.59/94. Short term technicals give indications about further bearishness of the pair. We can see that 131.44 gave support for the pair earlier in the week, we could expect the same in the nearest future as well. However, it is unlikely it could ignite a really.
Traders' Sentiment
It seems that the bulls keeping the pressure on the pair is taking its toll. Long traders at the moment hold 56%, five percent more than yesterday, of all open positions on the pair. Distribution of pending orders remained the same—65% of buy orders against 35% of sell ones.
© Dukascopy Bank SA