© Dukascopy Bank SA
- BNP Paribas SA (based on MarketWatch)
Pair's Outlook
The major currency pair fluctuates between the 55-day SMA at 1.3070 and the monthly R1 level at 1.3043. The pair reached the 423% Fibonacci retracement level that intersects the SMA, meaning that an upside wave should be finished. Thus the 200-day SMA at 1.3027 should experience more serious testing with a potential downfall to the 20-day SMA at 1.2921.
Traders' Sentiment
Investors in the Euro gradually reduce their positions, as the buy side decreased by another 1% and reached 46%. Pending orders segment delivers exactly the same data, since 46% of orders are ready to purchase the single currency.
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