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- Caxton FX (based on Reuters)
Pair's Outlook
The Cable fluctuates around the 20-day SMA for a third session, as the price sharply surged from the lower Bollinger band last week. The pair still remains above the 55-day and 100-day SMAs, but can not enter the upper part of the Bollinger band, therefore the current situation is rather ambiguous and it would be rational to wait for more signals to open positions. The closest support level is at 1.6077, where the SMAs merge, and the next serious resistance level is at 1.6254, the upper Bollinger band.
Traders' Sentiment
SWFX market traders maintain a bearish temper, as 37% of positions are long and 63% are short. Pending orders segment is gently bullish, as 54% of placed orders are long and 46% are short.
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