© Dukascopy Bank SA
- Erik Nielsen, UniCredit SpA (based on Bloomberg)
Pair's Outlook
Depreciation of EUR/USD pair was too powerful to be stopped above the 200-day SMA at 1.2740. On Friday session, the price had increased, but after that retreated even lower with a bottom at 1.2689. Currently, the price steps higher and if the 200-day SMA forms a sufficient resistance to keep the price beneath it, there is very possible to see further depreciation. Also, the RSI reached a value of 30 in the last session and that should be taken into the account, as the indicator entered an oversold zone.
Traders' Sentiment
SWFX market participants increased their bullish positions and currently there are 52% buy positions and 48% sell positions. Pending orders segment delivers very similar figures, as 48% have placed an order for a bullish position and 52% for a bearish.
© Dukascopy Bank SA