EUR/USD bounced off monthly PP

Despite a good start EUR/USD failed to preserve a bullish tendency and declined after touching the resistance at 1.3820/15, which is created by the monthly PP and 20-day SMA. Still, considering that there is a strong support area beneath the spot and many of the weekly and monthly technical indicators are giving ‘buy' signals, the bias towards the currency pair remains positive.

Traders are gradually changing their attitude with respect to EUR/USD. While five days ago as many as 65% of them considered the European currency to be bearish, today this percentage is notably lower, namely at 60%. As for the orders, the sell ones are in a majority with 64% of the total amount.