market sentiment is evidenced by the daily breakout and close above the key price and confluent long-term Fib resistance level
at 1.1043 on 2/3. Adding further weight to a long-side bias for this week, retail net open interest stands at -1.6927, indicating continued long risk exposure is more favorable than taking-on short risk. At least until and unless price closes below the 8/21 EMA
support layer, the EMAs cross-over to the downside, or retail positioning pulls back significantly (to more than -1.2 or higher), or reverses into positive territory. Implied volatility
is also low this week until Thursday, so risk reversal on entry will be lower than normal until then.