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"The conclusions from the weekend are that conflicts are cooling, and the risk-off events of the past two weeks may see upside risk as de-escalation spreads across the conflicts."
- IG (based on CNBC)
Pair's Outlook
The Greenback remains below 0.91, the last hurdle that needs to be overcome to reach this year's high. The daily indicators are currently supportive of such a bullish scenario, but the longer-term signals are not as encouraging, meaning 0.9150 may in the end stay intact. On the other hand, a path of the least resistance is to the upside, considering there are monthly PP, 200-day SMA and five-month up-trend supporting the currency at the moment.
Traders' Sentiment
The advantage of the longs grew even further over the weekend, being that their share went from 71 up to 75% after the U.S. currency had become cheaper. As for the orders, 58% of them are to buy and 42% are to sell the Buck.
© Dukascopy Bank SA