© Dukascopy Bank SA
- Citigroup (based on Bloomberg)
Pair's Outlook
After the U.S. non-farm employment data last Friday the major currency pair decreased heavily, making a new low at 1.2954. Currently the price is basically unchanged and is traded just beneath the weekly PP at 1.3025. Situation is ambiguous, as trading direction gradually gets flatter, but from a historical perspective, the price should check the 200-day SMA at 1.2940 to prepare a proper trend reverse.
Traders' Sentiment
During the weekend traders increased bearish sentiments and the sell side reached 53% compared with 47% taken up by the buy side. Pending orders segment remains perfectly equal, as both sides have 50% share of waiting orders.
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