EUR/USD confirmed 1.3777

Being that yesterday the currency pair failed to pass through the key resistance at 1.3777, some of the weekly technical indicators turned bearish, meaning that a possibility of a rally is currently decreasing. The nearest support is at 1.3711, but it is unlikely to reignite strong upward momentum, instead we would rather focus on the 100 and 200-day moving averages as the medium-term targets.

Despite a change in the pair's trend the sentiment of the market towards EUR/USD remains perfectly unchanged—41% of open positions are long and the majority (59%) of them are short. Concerning the orders, 45% are to buy and 55% are to sell the Euro against the U.S. Dollar.