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"We've had good economic data yet people are still anxious to see what comes out of the negotiations in Washington. We'll see a range-bound market until we get something definitive."
- Oakbrook Investments LLC (based on Bloomberg)
Pair's Outlook
After a few weeks of depreciation pair seems to be heading for a rally after receiving a bullish impetus from weekly S1/Bollinger band at 0.9837/32. Although short term technical indicators give negative aggregate outlook it seems it would not be a mistake to pay attention to the Stochastic indicator (and RSI at some extent) only as it has been predicting major turning points rather accurately lately and outlook on the weekly horizon is positive.
Traders' Sentiment
66% of traders continue perceiving greenback as the stronger currency in the pair and are holding short positions. Domination of bulls in the market should continue further as 62% of pending orders are to go long as well.
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