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- Avery Shenfeld, Chief Economist, CIBC (based on Yahoo Finance)
Pair's Outlook
The pair has slowed down around 1.004 since Friday, and it is likely to experience a trend reversal and a consecutive upward movement. In the bullish scenario, we are likely to see the pair touching 200-day SMA at 1.008 in near term. However, in case of a further slide, the pair may touch the lower Bollinger band near 1.005 soon.
Traders' Sentiment
On the SWFX sentiment index, the activity of bulls is rising, as 68% of traders (up from 60% on Friday) now expect pair's upward movement. However, 32% of market participants would favor pair's decline in near term.
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