EUR/USD's rally stopped by 20-day SMA

Even though EUR/USD received a strong bullish impetus after touching the monthly S1 and the rising trend-line, the currency pair did not succeed at reaching the monthly PP at 1.3719. Instead it is slowly grinding lower, towards the nearest support represented by the weekly PP and the 55-day SMA, which in turn is followed by 1.3607/1.3584—up-trend, 100-day SMA and weekly S1.

Due to decreased volatility of EUR/USD, the ratio between the longs and shorts is largely unchanged compared to the previous report—42% to 58% respectively. A similarly stable picture is observed with the pending orders, where there is no significant difference between the amounts of buy (47%) and sell (53%) ones.