EUR/USD curbed by 100-day SMA

Consolidation persists in the market, as bears continue to lay pressure upon a falling support line at 1.3044. Judging by the technical indicators, the price is unlikely to be a subject to a robust and extensive recovery in the near future. For now rallies are capped by the 100-day SMA at 1.3158, but a surge up to 1.3273/56 also will not invalidate the negative outlook.

The bullish side is enhancing its advantage over the bearish one, as the share of long positions has grown up to 55% and the portion of shorts has fallen down to 45%. The situation is turned around among the pending orders, 44% of which are to buy the Euro and 56% are to sell it.