EUR/USD unchanged despite uplifted volatility

In spite of trading in the turbulent environment on Friday, the Euro was broadly unchanged against the Dollar by the end of the trading session. EUR/USD attempted to fall as low as 20-day SMA at 1.1160, but all losses were erased and the pair climbed back toward 1.1260. At the same time, on Monday the cross started trading lower around 1.12; therefore there is a risk of a steeper decline in the short-term. However, the major support at 1.11 (monthly PP; weekly S1) should withhold any moderate bearish pressure.

he gap between long and short positions at the SWFX market has been stable for the sixth consecutive trading day, as bulls are still holding 47% of all opened positions.