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The pattern started when the pair bounced from 0.9239. Currently the pair is trading at 0.9279. The SWFX market sentiment is bullish as 74% of traders hold long positions on the pair expecting its appreciation. In addition, 52% of all pending orders in the range of 100 pips from current market price are buy orders. Long traders could focus on Bollinger band/Fibonacci (23.6% of move since 13th of September at 0.9281/83, daily pivot (R1) at 0.9297, Fibonacci (38.2%) at 0.9310 and daily pivot (R2)/200 bar SMA at 0.9322/24.
Technical indicators on aggregate point at depreciation of the pair on 30M and 4H time horizons. Short traders could focus on daily pivot (PP)/20 bar EMA at 0.9272, Bollinger band at 0.9264, pattern's support at 0.9255, daily pivot (S1) at 0.9248 and pattern's low at 0.9239.
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