© Dukascopy Bank SA
- Barclays Plc. (based on Bloomberg)
Pair's Outlook
The major currency pair found a support at 1.2890, where the monthly PP intersects with the 55-day SMA. Currently EUR/USD is approaching the 20-day SMA at 1.2950, which is the middle line of Bollinger bands. It is very likely that next few days direction will depend on which side the price will settle regarding the 55-day SMA. In an up-trend scenario, the price will face 1.2969 support level and 1.3063, where the weekly R1 lies. In a downside case, EUR/USD will experience a lot of difficulties, as the area beneath 1.29 is full of moving averages.
Traders' Sentiment
Expectations to see an appreciation of the Dollar slightly increases, as 46% of traders have long positions and 54% have short. The segmentation of pending orders market is almost the same as opened positions: 47% buy orders and 53% sell.
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