EUR/USD continues to depreciate

The major currency pair continues to decrease and has already entered the support zone at 1.2890/1.2920. If this zone is not be able to underpin the price, next level will be only 1.2810, where the 200-day SMA goes. Generally, further price depreciation is very likely, as downtrend does not show any stabilization signs and fulfills only 22%-38% Fibonacci corrections from the waves down.

General trader's sentiments remain negative, as SWFX data shows that 42.1% of them have long positions and 57.8% have short positions. As for the pending orders segment, 52% have placed orders for a long position and 48% for a short position.