© Dukascopy Bank SA
"A strong upward revision to U.S. economic growth estimates and sharp rises in U.S. Treasury yields suggest the so-called 'Septaper' is on track. But price action around major economic events has been erratic, and a big non-farm payrolls disappointment could derail the nascent U.S. dollar recovery."
- DailyFX (based on Bloomberg)
Pair's Outlook
Pair continues to show bullish directional signals and is aiming at 55-day SMA at the moment. Due to the readings of short and medium term technicals we expect it to stall there , we might even see a minor sell off. However, 94 cents is medium to long term target. Dip below the 20-day SAM could cause the pair to trail to 2 month low at 91.4 cents.
Traders' Sentiment
Situation in the market remains almost exactly the same as it was before the weekend—74% or market participants remain long on the pair and 67% (-3% during the weekend) of all pending orders are set to do the same.
© Dukascopy Bank SA