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- Morgan Stanley (based on Bloomberg)
Pair's Outlook
EUR/USD pair settled beneath the 200-day SMA and continues to decrease this week. Currently, the price is traded around the 100-day SMA at 1.2693 level and it is very possible that the price will easily pass it, as the 200-day SMA has not caused many difficulties. If this scenario comes true, 1.2648/35 area will be a possible support, where the weekly S1 and the monthly S2 levels intersect. Also, the RSI has a value of 29, which indicates that the price has already entered an oversold zone.
Traders' Sentiment
SWFX market players increase their bullish sentiments everyday, and today is not an exception, as bulls expanded their part till 54% and bears have 46%. Pending orders segment is almost equally distributed, 52% for buy orders and 48% for sell orders.
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