© Dukascopy Bank SA
- Sebastian Galy, strategist at Societe General (based on CNBC)
Industry outlook
With a relatively high 85 pip volatility, yesterday's trading session breached the prolonged the continuous low-volatility period, and gave the pair rather strong bullish impulse. A slight correction could be expected today, but the weekly outlook remains positive.
Traders' sentiment
The sentiment on the market matches the technical outlook with 64.48% of traders planning to open long positions in near term.
Long position opened
In case of a breach of 200-day SMA , the pair is likely to gain pace and move towards 0.9160. Near term support levels stand at 0.9046 and 0.9016.
Short position opened
In case of an intra-day correction the first target for bears is likely to be around 0.9042, the low of May 1 with a stop-loss at 0.9160.
© Dukascopy Bank SA