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- Concord Coalition (based on Bloomberg)
Pair once again is trying the strength of resistance at parity condition, but market is not willing to give up this level easily. Beside being a major level we can see that we have 200-day SMA there as well which makes predictions even more complicated. Short term technical indicators suggest that pair will remain turbulent around current level, but medium term outlook is rather grim for the pair.
Traders' Sentiment
60% of market participants expect appreciation of the pair as they continue to hold long positions on the pair. Distribution of pending orders gives strong support for such expectation as 68% of all pending orders on the pair are to go long as well.
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