© Dukascopy Bank SA
-Sumitomo Mitsui Trust Bank (based on Reuters)
Pair's Outlook
Traders' Sentiment
Pair is continuing its rally after bouncing from major (psychological level) at 100 and is moving to form what seems to be a double top. Lower levels were not hard task, but as pair approaches resistance levels above 102.5 it seems that we will see a loss in momentum and few choppy sessions would not be a surprise as well. Current stop at 200 day SMA/weekly R2 at 1.0206 might be start of one of such sessions.
Traders' Sentiment
Bearish SWFX sentiment of the pair became stronger today as amount of open short positions on the pair reached 60% mark. However, in complete opposite to yesterday, 59% of pending order's on the pair are to buy suggesting a stronger support in higher levels.
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