EUR/USD is traded at weekly PP

The common European currency recovers, as the price breached the monthly S1 level at 1.2875 and weekly pivot point at 1.2885 yesterday. Seems that Dollar's appreciation takes a break and the pair undergoes a small correction. Considering its possible extent, it is likely to see an attempt to overcome an intersection point of the 55-day SMA and weekly R1 at 1.2974. However, a trend of the market depends on the FOMC decision regarding the monetary easing programme.

Euro-bears enlarged their share by another 2% to 54%. It seems that investors foresee a stronger Dollar again, as the U.S. economy improves. Pending orders market is gently bearish with 54% of sell orders.