EUR/USD supported by the 100-day SMA

Pair dipped till 1.30 for the third time in the past 4 days yesterday. However, the same as all the other times, it found support with the 100-day SMA and returned above 1.305. It seems that bears might have given up as today pair already advanced 40 pips after receiving a bullish impetus from the 55-day SMA which is located just slightly above the 100-day SMA. For the pair to lift all the downside risk we should see a solid close above the 200-day SMA. Dips should find support at 1.30.

 

Situation in the market remains exactly the same as yesterday. Bears control 52% of all outstanding positions on the pair and bulls have posted 55% of all pending orders.