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- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
EUR/USD pair finished last week by sharply depreciating. The price reached an important level at a 1.2900 area, where the 55-day SMA intersects with the monthly PP. As the currency pair depreciated last three days, and currently is traded around the 20-day SMA together with the RSI value of 27 in a H4 graph, it is very likely to see a short-term consolidation. After that the key support would be at a 1.2755/05 level, where the lower Bollinger band merges with the monthly S1 and the 200-day SMA.
Traders' Sentiment
SWFX market participants have similar shares of opened order market, since 47% of traders have buy positions and 53% have short positions. Pending orders market has reached an equilibrium, as both sides have exactly the similar shares: 50/50.
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