© Dukascopy Bank SA
-BNP Paribas (based on Reuters)
Pair's Outlook
Pair is continuing to hover depressed below 100. Technical indicators on 1 day and 1 week charts and cluster of resistance levels slightly above 100 suggest that pair will be pushed down, maybe even below 99 since the only support level on the way would be weekly PP at 99.501. However, amount of pending orders suggest that if pair would manage to breach 100 mark we will see a sharp appreciation of the pair.
Traders' Sentiment
Pairs sentiment is slightly bullish for the second day in a row as 52% of traders hold long positions on the pair. However, it is very likely we will see a major strengthening in traders sentiment since 72% of all pending orders are buy orders.
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