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-Daragh Maher, HSBC (based on Reuters)
Pair's Outlook
Pair started week vaguely trading in 30 pip range today. Although specialist maintain neutral outlook and predicts the pair not to deviate far from 98.41 indicators point at appreciation of the pair as it continues to develop in double bottom frame and is likely to test 100 day SMA at 98.925 in short term.
Traders' Sentiment
Weeks start didn't change much in traders holdings on the pair—distribution of long and short position holders remains almost in perfect balance. However, 83% have posted pending buy orders indicating a possible major shifts in market sentiment in the future..
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