© Dukascopy Bank SA
- Swiss Global Asset Management (based on The Wall Street Journal)
Pair's Outlook
It seems that pair took a brake during its rally and at the moment is hovering between monthly and weekly pivots at 1.355. Looking at the longer perspective it seems that pair might be up for a correction after a 4 week rally as Stochastic indicators sends sell signal. This scenario would be in line with expectation of major market participants as well.
Traders' Sentiment
For the third day bearish sentiment towards the pair is unchanged—at the moment 65% of positions are short. It is likely that such situation will persist even further as pending orders are almost equally divided between long and short traders.
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