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- Citygroup Inc. (based on Bloomberg)
Pair's Outlook
The major currency pair moves in the line with market expectations regarding economic stimulus from the European Central Bank. The meeting will be held tomorrow and additional measures might be announced after it. The price sharply advanced yesterday, as the pair breached the 100-day SMA at 1.3156 and touched the upper Bollinger band at 1.3177. Today European central banks are on a holiday, thus high volatility in the market is not expected.
Traders' Sentiment
Bulls share continues to gradually decrease, since the buy side contracted another 3% to 43%. Seems that SWFX market participants are skeptical about ECB plans to boost domestic economy. Pending orders segment has a small bullish advantage, since 64% orders are to buy the Euro.
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