© Dukascopy Bank SA
- Dexia Assets Management (based on Bloomberg)
Pair's Outlook
The major currency pair sharply strengthened for a second trading session yesterday, as the price easily went through the 55-day SMA at 1.2995 and reached a 1.3040 level, where the 100-day SMA merges with the monthly pivot point. Slightly higher the 200-day SMA intersects the Bollinger band and forms another serious resistance for an upside movement.
Traders' Sentiment
Investors are bearish today, since 56% of opened positions are short. However, the advantage is small and might be fragile, as the price moves further. Pending orders market has a minor advantage of sell orders, as they constitute 51% of the total amount.
© Dukascopy Bank SA