© Dukascopy Bank SA
"The devil is in the details. Whether, and how, the government or the central bank participates can make a huge difference."
- K&H Bank (based on Reuters)
Pair's Outlook
Pair seems to be looking for an impetus which could kick it higher, but, as we can see from short and medium term technicals, there seems to be no catalyst in the market. In order to clarify the situation the pair should either dip below 0.8899, which we seem rather unlikely at the moment, or advance above 0.9109, which seems a long way to go as well. However, we are slightly more in favour of a bullish scenario.
Traders' Sentiment
Market sentiment itself remains at 71% of traders being long on the pair. Bullish side of pending orders, however, decreased by 6% and is at 63% gauge.
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