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- Market Pulse (based on Investing.com)
Pair's Outlook
The European currency appreciated against the US Dollar on Thursday. With it, the pair continued this week's constant fluctuation around the 1.125 level between the monthly pivot point at 1.1282 and the first weekly support at 1.1192. Both sides were supported by additional supports and resistances. The monthly pivot point lead upside is also enforced by the weekly pivot point and 55-day SMA at 1.1304, and the support received reinforcement from the 100-day SMA at 1.1227. In the meantime, aggregate technical indicators predict an appreciation for the pair.
Traders' Sentiment
SWFX traders are bearish on the currency pair, as 52% of open positions are short. In the meantime, pending orders in the 100-pip range are 54% long.
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