© Dukascopy Bank SA
- Bank of New York Mellon (based on Reuters)
Pair's Outlook
This pair still lacks volatility as for the last five trading days it has fluctuated in the range between the weekly and monthly PPs at 137.49/76. This week has started with a slight depreciation; however, we think that it is just a bearish correction before a further appreciation. We expect the pair to receive a bullish impetus around the major level at 137 and then to approach the next key level at 138. The monthly technicals also point to the north, strengthening the longer term bullish outlook.
Traders' Sentiment
The difference between the amounts of long (49%) and short (51%) positions remains negligible, meaning the sentiment is still neutral. In the meantime, the share of buy orders grew from 40% up to 46%.
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