EUR/USD stalls near 100-day SMA 


Pair’s Outlook
EUR/USD remains completely motionless after hitting the support at 1.3753/25. Given that this demand area is formed by the 100-day SMA, monthly S1 and the major up-trend, the currency pair is unlikely to move lower in the short run. The outlook is positive also considering that most of the long-term indicators are bullish. However, there are more chances that the Euro it going to breach this support instead of the down-trend resistance at 1.3931/20.


Traders’ Sentiment
The advantage of the short positions over the long ones continues to melt, as the share of the former has already fallen down to 60% from 68% seen five days ago. Similarly, the gap between the buy (63%) and sell (47%) orders is currently narrowing.


Source: DukascopyBankSA

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