EUR/USD erodes 1.25

EUR/USD has already managed to update this year's minimum today, but for now the support at 1.25 can still be considered to be intact. However, if the currency pair closes beneath this mark today, there will be few doubts the sell-off is going to extend further, namely down to 1.24. On the other hand, in case the October low withstands the selling pressure, the Euro will have a good opportunity to return to 1.2740.

While the distribution between the longs (58%) and the shorts (42%) has been more or less stable, the percentage of commands to purchase the single currency against the Buck has soared from 31 to 69% since the previous report on Friday.