© Dukascopy Bank SA
"The manufacturing data out of China has really given us another boost to the upside as world growth comes into focus at the beginning of this week."
- OMF (based on The New Zealand Herald)
Pair's Outlook
Pair is inching up higher, but it seems it's advancement will have to wait as 2014 high is causing noticeable problems for the pair's bulls. Advancement above it would put all time high at 0.8844 on the map and that seems somewhat unrealistic in the short term; medium to long term—maybe. Failure at any of the is likely to provoke substantial bearish action and might cause a sell off till 85 cent mark or lower.
Traders' Sentiment
Bears are strengthening their presence in the market. Bearish side of pending orders expanded by 6-18% till 60-75% in total. At the same time, for the seventh day in a row, they continue to hold at least 70% of all of the open positions.
© Dukascopy Bank SA