© Dukascopy Bank SA
- CanadianForex (based on Reuters)
Pair's Outlook
Today the U.S. Dollar formed an attack towards the 1.11 level, even though it managed to approach the mark it failed to consolidate above the level. However, the pair's position has not been dramatically undermined after the failure at the major level. In the mean time, the weekly and monthly technical indicators are bullish, thus a repeated attacks towards the 1.11 level could follow. We do not expect the pair falling below the 1.10 mark in the nearest time, as it still is on a bullish momentum.
Traders' Sentiment
The sentiment towards the pair has not changed since Friday, at the moment of writing 64% of the SWFX market participants remain bullish. Meanwhile, the share of sell orders grew reached 62%.
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