EUR/USD gravitates towards weekly PP

Although there are no strong resistance levels until 1.37, which has all the chances to be the pair's next objective, EUR/USD stays glued to the weekly PP and 20-day SMA at 1.3588/82 instead. Nevertheless, whether the Euro recovers in the near term or not, the long-term perspective is considered to be bearish for the currency. However, there is still a tough support area at 1.3481/52 that is preventing emergence of a sell-off.

The sentiment towards EUR/USD stays completely unchanged for a third day in a row—46% of positions are long and 54% are short. As for the pending orders, 39% of them are to purchase and 61% are to sell the common currency against the buck.