EUR/USD remains hesitant

The pair stays indecisive, as it is currently trading flat just above the support represented by the monthly S1 and 2014 low at 1.3481/75. However, eventually the bears are expected to regain control of the market and push the price further south, towards the monthly S2 at 1.3330, even though most of the monthly technical indicators are presently pointing upwards. Conversely, if the Euro appreciates, there is the 200-day SMA at 1.3684 that could stop the rally.

There is still no significant difference between the amounts of the long and short positions on EUR/USD, as they constitute 52% and 48% of the market respectively. A similar situation is observed with the pending orders—45% are to buy and 55% are to sell the Euro.