EUR/USD testing 100-day SMA

It seemed that a bounce from the 100-day SMA last week could send the pair on the path of regaining all of the recent losses. However, pair did not manage to advance above 1.31 and at the moment is hovering just slightly above 1.3 with the intention of breaching 100-day SMA. Pairs outlook is rather negative, but taking in to account that significant potion of indicators give neutral outlook we might see short term rallies which should remain capped till 1.31. 

 

From the market sentiment perspective the pair started the new week in exactly the same place as it was at the end of the last week.  53% of all open positions are short on the pair and 51% of all pending orders were posted by the bears.