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- Hans Kunnen, St. George Bank Ltd (based on Bloomberg)
Pair's Outlook
Yesterday EUR/USD stepped lower than the previous day's bottom, but in the end of the U.S. trading session retreated and finished a day closing at the 200-day SMA line at 1.2740. Today the price increases and approaches the weekly S1 level at 1.2752. As we had the RSI value of 32 yesterday, it is very likely to see positive correction soon, at least till the previous supports, which now became resistance levels. That would be 1.2800 and 1.2880.
Traders' Sentiment
As EUR/USD makes a new low, SWFX market sentiments change slightly, buyers side increased by 1% to 49% and sellers side fell to 51%. In the pending orders segment exists a very similar situation, since 53% orders are for a buy and 47% are for a sell.
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