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- French Industry Minister (based on MarketWatch)
Pair's Outlook
Pair eroded the resistance of weekly R1, September high and at the moment is aiming at weekly R3 at 136.11. Due to the momentum it is demonstrating lately the pair is very likely to do so. We should not be very surprised in case of a minor fail, however. Market bulls can easily choose to capitalize on their gains at the moment which would push the pair lower. If the pair advances above 136.11 it would put 2009 high on the map with 137.75 being the main interim target.
Traders' Sentiment
Bears seems to be gaining upper hand in the market further. At the moment they account for 57% of market participants. It is 5% more than yesterday. In addition to this, bullish side of pending orders contracted by additional 3% since yesterday (6% since Friday) and is at 63% gauge today.
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