EUR/USD dips below 1.30

Pair received bullish from the 55-day SMA, around which it was trading yesterday, and dipped to 1.298. There it bounced from the weekly S1 and at the moment is testing 100-day SMA at 1.303. The Stochastic indicator predicts pairs rally. However, it seems that pair might recover its yesterdays losses and step back up till 55-day SMA, but nothing more. Medium to long term outlook remains bearish and the question is for how long 1.30 will be able to support the pair.

 

Market sentiment is continuing to become more bullish. However, bears still hold the majority, even if it is slim (53%), of all open positions and majority (62%) of pending orders are set in favor for the bears as well.