EUR/USD firmly steps higher

EUR/USD pair firmly steps higher and yesterday it was very close to a three-week high at 1.2868. The major currency pair bounced to a 1.2740 support level yesterday and sharply advanced till the beginning of Asia trading hours. Currently, the price slightly lower from its peak level, around 1.2846. As EUR/USD have not checked 1.2880 level properly, where the 100-day SMA and the upper Bollinger Band cross, it is very likely that this level will be retested with a stronger impetus soon. The downside scenario is also possible, as it should be rapid and meet the first serious support around 1.2700/1.2680 range.

SWFX market participants' segmentation is slightly bearish, as 47% traders are bullish and 53% are bearish. Pending orders segment provides almost identical sentiments as the spot market, being that 48% traders are looking forward to open a long position and 52% a short position.