© Dukascopy Bank SA
Despite having bottomed out twice, the pair failed to reach the neck-line at 2.8286 during its rebound after the second drop. At the moment, the pair is located above the 50-hour SMA at 2.8177, albeit slightly and according to the SWFX numbers, the pair is not likely to perform a breakout soon – over 90% of market players bet on depreciation of the pair in the hours to come.
© Dukascopy Bank SA