© Dukascopy Bank SA
- Markit (based on Bloomberg)
Pair's Outlook
It seems that bullish momentum has worn off as pair is struggling to consolidate above the 1.33. It might be that Fibonacci retracements of August to September decline are having impact on this, but we have ignored such probability for the time being. 20 and 55-day SMAs are working as a strong support for the pair, in case the pair dips bellow it we could see a slide to 1.311. If it manages to provide significant bullish impetus we could expect for a rally up to 1.341.
Traders' Sentiment
Bears lost some, approximately 2%, of the market, but continue to control clear majority, 59%, of the market. Pending orders are perfectly evenly distributed between the long and short traders.
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