EUR/USD spikes back to reach 55-day SMA

FX:EURUSD   Euro Fx/U.S. Dollar
86 0 1
"People reduced expectations that the ECB is going to be so dramatic next week with their policy decision."
- BMO             Capital Markets (based on Reuters)

Pair's Outlook
In the run up to Friday's US payrolls data, the EUR/USD             cross skyrocketed the most since February 9 and retested the January-February uptrend line. The bulls were limited by the 55-day SMA , currently at 1.0970. This moving average is succeeded by another bunch of resistances including the 20-day SMA , weekly and monthly pivot points . Ultimately, there is the 200-day SMA placed at 1.1045. An advance above all of them should neutralise our outlook for next week, also noting that weekly technical indicators are expecting a sideways movement starting March 7.

Traders' Sentiment
More SWFX traders have decided to join the bullish camp and push the number of open positions from 51% up to 53%. However, commands are now set to sell the Euro             against the Buck in 57-58% of all cases.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out