© Dukascopy Bank SA
-Steven Barrow, Standard Bank Plc (based on Bloomberg Businessweek)
Pair's Outlook
Pair demonstrated elevated volatility today wandering between 100 day SMA at 98.854 and weekly S1 at 97.742. Indicators suggest the pair should advance before eventually collapsing, but it is highly unlikely pair will manage to breach 10 day SMA resistance in the short term.
Traders' Sentiment
Traders sentiment slipped in slight favor of the bulls as 54% of traders have open long positions on the pair. In the future this sentiment should increase further as 80% of all pending orders are buy orders.
© Dukascopy Bank SA