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- BK Asset Management (based on Reuters)
Pair's Outlook
EUR/USD pair firmly overcame the 20-day SMA at 1.2965 yesterday and attempted to breach 1.30 area. In a H4 graph, the 55-day SMA lies at 1.3004 and contains strong resistance together with a psychological level. Therefore, it is likely to see a consolidation or even correction to accumulate a new impetus to move higher. The next resistance is the R1 at 1.3063 and supports are at 1.2965, the weekly PP, and 1.2913, the 55-day SMA.
Traders' Sentiment
Bulls weaken their positions, since the buy side shrinks to 45% and the sell side increases to 55%. Pending orders segment has opposite expectations, as 57% of orders are buy and 43% are sell.
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