EUR/USD slows down, remains above weekly PP

Despite an attempt to grow beyond the 23.6% Fibonacci retracement (May 2014 - Mar 2015), the EUR/USD pair was rejected by this level and the long-term downtrend around 1.1340. Moreover, the bullish market remains limited by the recent high around 1.1385. Therefore, the short-term outlook for the Euro is mildly bearish, but the neutral scenario is also possible, especially considering mixed daily and weekly technical indicators. 

The gap between long and short positions has been stable for the eighth consecutive day, as bulls are still holding 47% of all opened positions. Meanwhile, pending orders to buy or sell the Euro against US Dollar in 100-pip range from the spot declined by 13% to 40%.