EUR/USD halted by up-trend

Despite the bearishness shown two days ago EUR/USD preserves the potential to advance farther, being that the lower boundary of the rising change at 1.3536/24 still holds. Accordingly, there is a good chance the currency pair will be able to reach 1.3711 before making a U-turn and starting to decline, especially since the daily and weekly technical indicators are giving ‘buy' signals.

A substantial majority (64%) of the SWFX market participants remain short on the single European currency, believing it will be unable to stay on a bullish path relative to the U.S. Dollar. Meanwhile, there is almost no difference between the amounts of buy (50.5%) and sell (49.5%) orders.