© Dukascopy Bank SA
"The market is more or less holding out now to watch the GDP figures on Friday. We've had a pretty good run, and I think people are going to lighten up ahead of the data."
- CIBC World Markets (based on The Wall Street Journal)
Pair's Outlook
Pair has been trying to breach 1.03 for few days now, but every time has rebounded to 1.025 area. Although 1.03 seems to be unbreachable for the pair at the moment, recent developments in the market sentiment and readings from daily and weekly technicals suggest that this is just a matter of time.
Traders' Sentiment
Bears took a major hit, as majority of traders, even if marginally, are now bullish on the pair (53%). In addition, 64% of traders are long on the pair.
© Dukascopy Bank SA