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"The market still lacks (decisive) trading cues that help investors jump in buying up (the dollar)."
- Mizuho Securities (based on CNBC)
Pair's Outlook
Yesterday the bullion rebounded back above 1,200 round level and continued to ignore presence of technical levels' zone at 1,198 (weekly PP, 20 and 55-day SMAs). The medium-term outlook therefore is becoming more unclear, while markets are waiting for more pronounced price development. Weekly and monthly technical indicators are pointing to the south; however, for the bearish scenario to be affirmed, the precious metal should fall down as low as 1,183 (monthly PP).
Traders' Sentiment
Bulls have a substantial advantage over bears at the SWFX market, as they are holding 72% of all opened trades in the morning on Wednesday, no change from yesterday.
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