© Dukascopy Bank SA
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
The major pair remains in a zone between the 200-day SMA at 1.3054 and the monthly R1 level at 1.3043. The price lacks bullish momentum to start a recovery, thus slips lower towards a 1.3021 level, where the 20-day SMA merges with the 55-day SMA and forms a reasonable support in case of a further depreciation. However, direction in the mid-term is unclear, as technical indicators deliver mixed signals and the RSI has a value of 51.
Traders' Sentiment
While the price is being traded flat and is accumulating stronger impetus, traders increase their bullish exposure by 2% to 47% in total. Pending orders segment is slightly bearish, as 53% of placed orders are looking for a moment to open a sell position.
© Dukascopy Bank SA