EUR/USD bounces from the 55-day SMA

The major currency pair moves according to support levels in recent trading sessions, as the market experiences an absence of important macro news. Today the price is higher than the 55-day SMA at 1.3049, following a test of the monthly R1 and the 200-day SMA at 1.3038. EUR/USD might remain in a current range between the SMAs and a previous high around a 1.31 level, which will be followed by a more visible correction, as an upside wave reached a 423% Fibonacci.

SWFX market changes fractionally towards an equilibrium, as the sell side contracted by 2% and reached a 53% share. Waiting orders market exhibits similar sentiments, since 52% of orders are long.