EUR/USD rebounds from 1.2856/1.2781

A formidable support area at 1.2856/1.2781 managed to prevent further debasement of the Euro and provided the pair with a strong bullish impetus. At the moment EUR/USD is struggling with 1.2927/63, but is poised for more gains in near future, as suggested by both daily and weekly technical indicators in aggregate. The next objectives lie at 1.3044 and 1.3122/51.

SWFX traders' sentiment remains stable towards EUR/USD, as 44% of positions presently are the long ones and 56% are the short ones, meaning that bears have a slight advantage at the moment over bulls. Concerning orders, 48% are to acquire the single currency and 52% are to sell it.