EUR/USD brakes the up-trend

The currency pair has closed beneath the bullish support line, implying that the dip could extend even lower after the price undergoes an upward correction. In this case either 1.3199/43 or 1.3042 could act as a springboard. However, the rally is now not expected to surpass 1.3321, but is likely to be inclined to move lower in the medium to long term.

At the moment the number of short positions (55%) on EUR/USD is exceeding the amount of the long ones (45%), but the advantage is not decisive and is actually diminishing. The gap between the buy (62%) and sell orders (38%), on the other hand, is widening.