© Dukascopy Bank SA
- Cambridge Mercantile Group (based on Bloomberg)
Pair's Outlook
Bounce from the 20-day SMA was short lived as the pair dipped once again. However, it found additional support with August high and at the moment is heading towards 2011 high. We expect some bearishness there, but overall trend should persist. 2013 high, however, is almost certain to fail the pair, at least for the short term.
Traders' Sentiment
After a 4% increase in bullish side, the distribution of open positions remains stable at 75% of traders being long on the pair. Bullish side of pending orders, however, increased by 4% and is at 59% level today.
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