© Dukascopy Bank SA
- Bank of Israel (based on Bloomberg)
Pair's Outlook
The bearish tendency, which started on October 31st, has failed to continue, as the last few days the major currency pair firmly appreciated. The depreciation was stopped by the 1.2705 level, which formed a support along with the 100-day SMA. Currently, the price approaches the 200-day SMA and if it is successful, the exchange rate will open free area for an appreciation till 1.2800. In case the correction fails, the price should decrease to retest the last bottom at 1.2661.
Traders' Sentiment
Distribution of market players reached equilibrium in EUR/USD pair, as the buy and sell sides have 50% of opened orders. The pending orders segment is slightly more bullish than SWFX market, as 55% placed orders are buy and 45% are sell.
© Dukascopy Bank SA