EUR/USD trades at key trend-line

At the moment EUR/USD is forcing its way through a tough supply area created by the major down-trend resistance and the recent peak. In order to confirm its bullish intentions the currency pair is required to settle above 1.3847/15. Until then the outlook will remain negative, even though the daily and weekly technical indicators continue pointing upwards.

Being that the price's rate of change has notably slowed down lately, the distribution between the long and short positions has not been subject to any noticeable variation. Presently 41% of market participants assume the Euro will appreciate, whereas the majority (59%) believe in an alternative scenario.