© Dukascopy Bank SA
"There is little direction coming from the market at the moment...It is unlikely to move unless we see some surprises overnight."
- Western Union (based on The Wall Street Journal)
Pair's Outlook
For the past 3 days pair has been trying to advance above 0.82. Although pair is unlikely to advance far above this level or even breach this level, it should be kept close to this level by Fibonacci retracement (38.2% of 5th of September— 14th of September move)/weekly pivot point at 0.8185/78.
Traders' Sentiment
After hovering above a 70% mark for more than a week, amount of traders holding short positions on the pair dropped below the mentioned level (65% today). However, as amount of pending orders remain around 60%, 57% today) we should not see any other major changes in the future.
© Dukascopy Bank SA