EUR/USD slumps for a third consecutive day

EUR/USD failed at the nearest support yesterday, plunging below the 1.1154/39 area. Consolidation below 100/55-day SMAs and 61.8% Fibonacci retracement of the Jul-Aug uptrend allows further losses down to the 200-day SMA/weekly S2 at 1.1080/75. Meanwhile, the latter mark is strengthened by Sep 3 low, which may encourage bulls for a recovery. On the other hand, a slide below 1.1075 may cause additional drop down to May/Jul lows (1.0818/08) in the medium term. Daily technical indicators are in turn giving mixed aggregate signal at the moment.

At the moment bulls and bears are holding 54% and 46% of all trades, respectively. In addition to that, the share of bullish pending orders in 100-pip range from the spot grew from 48% to 49%.