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- Mizuho Corporate Bank Ltd. (based on Bloomberg)
Pair's Outlook
Yesterday in the morning EUR/USD pair was sharply appreciating, but, however, in the second part of a trading day, the price reversed its direction and broke through the previous bottom at 1.2763. Currently, the major currency pair is traded around 1.2760 level, where the 200-day SMA and the weekly S1 level can be found. Also, the price is moving along with the lower Bollinger line and the RSI has a value of 34 in a daily graph, therefore a positive correction is very likely soon.
Traders' Sentiment
SWFX market participants have distributed their positions almost equally, as 48% traders bet on the further Euro increase, and 52% investors have contra arguments for that. Pending orders market maintains the same idea of the Dollar appreciation, as more traders have a short position (45/55).
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