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- Koichi Takamatsu, Nomura Securities (based on CNBC)
Pair's Outlook
Despite prevalence of ‘sell' signals on the weekly and monthly charts, the support at 0.8945 proved to be a tough level, as it prevented an extension of a dip and managed to restore a bullish momentum. Right now the pair is trying to overcome the 100-day SMA at 0.9029, and, if it is successful, the only significant resistance left until the 200-day SMA will be the monthly R1 at 0.9091.
Traders' Sentiment
The distribution between the bullish and bearish market participants is perfectly unchanged compared to yesterday's readings, being that 73% of positions are long and the remaining 27% are short. Meanwhile, the difference between the amounts of buy (55%) and sell (45%) orders is insignificant.
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