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- Sumitomo Mitsui Banking Corporation (based on Reuters)
Pair's Outlook
EUR/USD was turbulent on Wednesday, with intraday dips prolonging down to the 1.1160 mark. However, by daily close the bulls reclaimed leadership and sent the pair back to 1.1290, meaning they were uncertain about comments made by the Fed Chair Janet Yellen. Today we continue watching the first weekly resistance at 1.1330, followed by the upper Bollinger band at 1.1394. Success here will have major bullish implications for EUR/USD, which could surge up to 1.1460 (Sep high) in the next few days. Alongside, the key long-term support is offered by 200/20-day SMAs and the weekly PP at 1.1072/53.
Traders' Sentiment
Bullish market portion on the SWFX market has stalled at 39%, while pending orders are again set to buy the Euro in most of the cases.
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