© Dukascopy
- Alliance Bernstein (Based on Bloomberg)
Pair's Outlook
As yesterday's price drop broke through the 20-day SMA and the weekly PP so easily, today the price slightly retreats back and looks for a resistance around there. If it is found, it is very likely that the price will decrease further and reach 1.5951 level, where the lower Bollinger band lies and the weekly S1 goes. If the alternative scenario comes true and the price settles above the 1.6050 zone, the price might experience appreciation and reach 1.6140 or 1.6080 levels.
Traders' Sentiment
SWFX market participants hold the same sentiments as they were yesterday, 35% traders have a long position and 65% have a short position. Placed orders segment's distribution is almost equal as 49% orders are for a buy and 51% for a sell.
© Dukascopy