EUR/USD to re-visit this year's low

EUR/USD preserves robust downward momentum and the pair is about to hit the weekly and monthly S1 at 1.3563/47. Once this support is out of the way, the rate is likely to target the key demand area at 1.3475—2014 low. Eventually this level is also expected to be breached, thus confirming the long-term bearish outlook for the European currency. However, most of the daily and monthly technical indicators are pointing upwards at the moment.

After being bearish for a while, the sentiment towards EUR/USD returned to a neutral territory, as now there is no difference between the numbers of long and short positions opened on the currency pair.