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- Saxo Bank (based on Reuters).
Pair's Outlook
Pair started the week hovering between the weekly PP and 55 day SMA. Although daily technicals indicate a possible dip, weekly technicals give much stronger indication about recovery of the pair. This rather well illustrates expectations of major market participants, however, current market sentiment suggest there is no clear catalyst in any of the sides of the pair indicating it might trade sideways for some time.
Traders' Sentiment
Weekend has not changed much in the market sentiment—it remains almost equally divided between the bears and the bulls. Distribution of pending orders has changed, but only marginally—amount of orders to go long decreased by 6% and at the moment they account for 56% of all pending orders.
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