EUR/USD stands at weekly S1

Decline of the price has been halted by a support area at 1.3199/28, which could potentially initiate an upward correction up to 1.3322, a recently breached major trend-line. Accordingly, the long-term outlook has been changed to negative with the nearest target being located at 1.3079/43. However, weekly technical indicators continue giving "buy" signals.

The gap between the long and short positions has stabilised, as the former carry on taking up 45% of the market, while the share of the latter remains at 55%. On the other hand, dominance of buy orders (55%) over the sell ones (45%) has substantially diminished during the weekend.