EUR/USD expects heavier momentum triggers

Yesterday EUR/USD regained only a tiny percentage of Friday's losses, as data-free trading session ended with no distinctive leadership of either bulls or bears. As for the first daily resistance line, we are still looking at the weekly pivot point placed at 1.1346, followed by the 20-day SMA 14 pips higher. The bearish challenge is circled around the monthly S1 along with the 55-day SMA that are guarding the ten-pip zone at 1.1288/78. If it is breached today, then the pair will try to lunge at the first weekly demand at 1.1246. However, daily technical indicators have resumed pointing to the upside today.  

57% of SWFX traders continue expecting that the Euro will depreciate against the Dollar. Moreover, only 36% of pending orders a 100-pip range from the spot see EUR/USD higher.