EUR/USD stays directionless

EUR/USD remains trapped between the down-trend resistance at 1.3760 and the weekly PP at 1.3730, being unable to breach any of these levels. And even though the daily and monthly indicators are suggesting that eventually the Euro is going to rally, the path of the least resistance at the moment is to the downside. Then the currency pair will have an opportunity to test the 200-day SMA.

The distribution between the long and short positions stays perfectly unchanged—34% and 66% respectively, meaning the traders' sentiment is strongly bearish. Similarly, the gap between the amounts of buy and sell orders is also quite stable—32% and 68% accordingly.