EUR/USD bounces from the 100-day SMA

Yesterday pair did not manage to confidently breach 100-day SMA. However, it opened on it today, received a bullish impetus and at the moment is testing 55-day SMA at 1.3079. Short term outlook on the pair is more positive than negative. Such outlook comes from the possible momentum the pair might gain from the 100-day SMA bullish impetus and the Stochastic indicator on the daily horizon. Medium to long term outlook remains negative.

 

Although the bears continue to hold 53% (same amount for the past 3 sessions) of all open positions on the pair, the share of the pending orders posted by them decreased from 62% to 51%. It suggest that bulls might come out swinging in the beginning of the next week.