EUR/USD fails to advance above the 100-day SMA

Few days ago pair depreciated by more than 100 pips after receiving a bearish impetus from the 55-day SMA. It was pushed back up by the weekly S1, however, did not manage to extend its gains above the 100-day SMA. At the moment the pair is trading slightly below it, at the major level of 1.30. As suggested by the technical indicators pair is further facing downside risk. Medium to long term target  could be set around 1.29 and 1.28; short term rallies should be capped by the  200-day SMA.

 

It seems that some uncertainty is creeping in to the market. The bears and the bulls are continuing to hold almost equal shares of open positions. Share of pending orders posted by the bears decreased to 51% (-3% since yesterday).