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- Mizuho Corporate Bank Ltd. (based on Bloomberg)
Pair's Outlook
After breaking a 1-month low at 1.2804 this week, EUR/USD forms a bottom at the monthly S1 at 1.2799, where the daily candle just closed, exactly on the line. Today the price is quite high, around a 1.2870 level. Analysing a possible appreciation, the price might find resistance at 1.2886, the weekly PP, and at 1.2933, where the 55-day SMA goes. Generally, area from 1.2933 to 1.2969 is full of various resistance levels, therefore, short-term position reverse from these levels is possible.
Traders' Sentiment
While the price increases, sentiments of the SWFX market participants do not change: 48% are long positions and 52% are short positions. Pending orders segment is equally distributed: 50/50 between buy and sell position orders.
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