EUR/USD stays glued to 1.29

The Euro continues to trade flat, being unable neither to break the support at 1.29 nor to decouple from it and challenge some of the nearby resistances. However, in the end the bears are expected to gain the upper hand and push the price lower from here, though they might have difficulties crossing the 2013 low at 1.2750, which is likely to prove to be a tough level. But if it is broken, there will be a high chance of the sell-off extending to the 2012 low at 1.2050.

The distribution between the long and short positions is the same as yesterday—58 an 42%, respectively. But the advantage of the sell orders over the buy ones has increased from 26 to 34 percentage points over the last 24 hours.