© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg Businessweek)
Pair's Outlook
Pair started the week in a rather calm manner after it reached October high at 1.3833. Technical indicators give a rather neutral outlook, but it is important to not that Stochastic indicator, which predicts major turning points, gives clear selling signal. In addition to this, we have a clear bearish attitude from the traders. All in all, we expect the pairs failure in the nearest future and see it trailing to 1.3693.
Traders' Sentiment
Market sentiment remained exactly where it was on Friday—with bears holding 63% of all open positions. Only noticeable change is observed in the distribution of pending orders. Bullish side of it increased by 6.5% and is at 60% gauge today.
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