- CIBC World Markets (based on Reuters)
Friday's forecasts came true. The Greenback rallied through all the resistances on its path, until the currency reached a Bollinger band at 1.2626, which stopped the Buck from advancing further. However, a correction should take place after this surge, so the pair is likely to edge down a little on Monday. Meanwhile, the technical studies are mixed, and no significant data is due today. Closest significant upport for the US Dollar is set around the weekly and monthly PPs at 1.2547.
The gap between the long and short positions narrowed, as right now 71% of traders have a positive outlook on the Buck. The portion of buy orders jumped 30 percentage points, from 49% to 79%.