EUR/USD attempts to bounce off 55-day SMA

Last trading day of 2015 was bearish for the EUR/USD currency pair when it tumbled below the 1.09 mark to settle near 1.0855. During the January 4 Asian session, however, we are seeing a confident recovery around 1.09. This level is reinforced by the weekly pivot point and, if violated, we would allow for gains to be extended through 1.0950 in the nearest future. A longer-term bullish goal is placed at 1.1044 where the 100-day SMA is currently merging with 200-day SMA. From another side, the closest demand is 55-day SMA 1.0864. 

The bulls are in the minority of 43%, while the bears are holding 57% of all positions at the moment.