EUR/USD trades within 100-pip range

The currency pair remains trapped between 1.3450 and 1.3350, as neither bulls nor bears are able to push the price in any direction. Still, EUR/USD is considered to be inclined to move lower, towards 1.33, where the 2013 Q4 low merges with the monthly S1 level. From there the Euro could try to launch an attack on the 2013 September low at 1.31. But for this scenario to be valid, the resistance at 1.35 (down-trend and monthly PP) must stay intact.

The sentiment of the SWFX market is neutral with respect to EUR/USD, being that 54% of traders are long and 46% are short on the pair. Similarly, there is no significant difference between the shares of buy (51%) and sell (49%) orders.