© Dukascopy Bank SA
- ECB (based on CNBC)
Pair's Outlook
While yesterday there were still some reasons to believe that the resistance trend-line (also weekly and monthly pivots) at 130 is going to hold, today there are very few doubts the falling wedge has not been broken to the upside. Accordingly, the outlook is now bullish, and the next major target is a combination of the 55-day moving average and the 23.6% Fibonacci retracement of the Dec-Mar sell-off.
Traders' Sentiment
The gap between the amounts of long and shorts positions narrowed from 10 to merely 2 percentage points compared to the yesterday's report. At the same time, there are less orders to buy, but they still take up whopping 80% of all commands.
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