EUR/USD steady for eight consecutive day

Since the first day of April the EUR/USD pair has been ending all trading sessions with no material change in its value, while the volume has been in a decline too. On Tuesday morning the conditions are similar, even though the cross is now hovering above 1.14. Thus, we keep our reasonably bullish bias and the mid-term caps should be found at 1.15 (October high). Daily technical indicators are positive as well. Any intraday losses, although they are less likely, will initially have to tackle the weekly pivot point at 1.1391.

For the first time in six working days the total percentage of bullish transactions went up above 40%. As for pending orders, 52% of them in the 50-pip range around the spot are going short with respect to the 19-nation currency, while the 100-pip orders are 60% bearish.