© Dukascopy Bank SA
- BNP Paribas (based on Reuters)
Pair's Outlook
It seems that bulls continue to consolidate their gains as pair trailed slightly lower today. We expect this trend to continue, but to be rather slow and to see significant bullishness once it hits weekly S1. In longer term perspective, we do no expect it to ignite a major rally, but rather that the pair will remain somewhere between the weekly S1 and 142.83.
Traders' Sentiment
There is no observable change in the market sentiment since yesterday. Bears continue to hold 60% of all open positions. Bulls, however, are maintaining the pressure as bullish side of pending orders remain at 79% gauge.
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