EUR/USD steps over 55-day SMA

Even though the currency pair surpassed the 55-day SMA, the up-trend resistance line that connects the lows reached on Jul 9 and Sep 6 remains intact. This implies that for now the bias stays bearish. On the other hand, if 1.3627/15 is overcome in the nearest future, then EUR/USD will be likely to advance towards 1.3797/83, namely the major down-trend resistance line, but the price should be halted there.

Being that the overall popularity of the U.S. Dollar is currently on the rise and the overall popularity of the Euro is on the decline, the dominance of the bears in the EUR/USD market is gradually growing. The share of short positions added one percentage point to 58%. However, the numbers of buy and sell orders are equal.