EUR/USD poised for gains this week

EUR/USD has been rising for a fifth consecutive day in the morning on Friday, after the currency pair posted substantial gains on Thursday. The monthly pivot point was eroded by bulls in the past 24 hours, and recent highs/weekly R1/23.6% Fibo resistances are being tested at the moment. Weekly technical indicators are giving signals to acquire the Euro next week and we tend to support them. In case the 1.13 mark is violated, we will look at the next major supply at 1.1435 (Jun high), which guards the May high at 1.1437. 

EUR/USD's sentiment recovered earlier losses yesterday, and now bulls and bears are holding the equal number of open positions. Apart from that, the portion of long pending orders in 100-pip range from the spot climbed by ten additional percentage points to 59%.