EUR/USD stays calm

Thin liquidity does not allow the currency pairs to gain momentum, and EUR/USD is no exception. However, considering that a substantial majority of the technical indicators continue pointing north, this particular instrument possesses an upward potential and could start a recovery as early as tomorrow. Still, the rally should not be able to surpass the key resistance at 1.39, namely the long-term down-trend.

The distribution between the bullish and bearish market participants is virtually unchanged since the last report—33% of positions are long and 67% are short. On the other hand, the share of orders to sell the Euro plummeted from 65% down to 54%.