© Dukascopy Bank SA
- EBF President Christian Clausen (based on Bloomberg)
Pair's Outlook
Last few trading sessions were very calm and the price fluctuated in a narrow range with a bottom line at 0.9078. However, the pair recovered bullish sentiments and sharply increased. Currently, the pair is breaching the weekly PP at 0.9132 and it is hard to say, whether it will successfully overcome this level, as it is a historical support from previous dips. Thus, the nearest support lies at 0.90, the Bollinger line and 423% Fibonacci, and the nearest resistance can be found at 0.9221, the 55-day SMA.
Traders' Sentiment
The bullish side sharply shrunk over a previous night, as there is only 40% left of buy positions and 60% of sell positions. Pending orders segment is opposite, the majority of orders are on the bullish side, 60% are long and 40% are short.
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