EUR/USD attacks 200-day SMA

The currency pair has finally touched upon one of the main resistances, which in turn is expected to prove propensity of the Euro to decline over the long term. But if the 200-day SMA at 1.37 fails to negate the current bullish momentum, there is the 100-day SMA with monthly R1 at 1.3758/40 and also a major down-trend resistance line at 1.3870 that are likely to turn the upward tendency of the price around should it persist.

The sentiment towards the Euro continues to deteriorate—the share of short positions increased from 59% to 64%. In the meantime, there is no difference between the amounts of buy and sell orders—50% and 50% respectively.