EUR/USD gains above the 20-day SMA

News from Cyprus inflamed bullish sentiments in the major currency pair, as the price surged on Monday's trading session. The pair overcame the 20-day SMA at 1.2993 and was moving higher towards the upper boundary of last week gap at 1.3069. It is very likely that EUR/USD finally closes the gap in the beginning of this week. After that the closest resistance is only at 1.3096/1.3113 area, where the weekly R1 and Bollinger band are positioned.

The difference between bullish and bearish sentiments remains factional, as 49% of positions are long and 51% are short. Pending orders segment exhibits slightly bearish sentiments, as the buy side possesses 52% of the market.