EUR/USD hovers below monthly R1

Even though negative economic data raised concerns of investors, the single European currency remains among the most preferable. Its price increases for a second trading session, as it bounced from the weekly S1 at 1.2972 and the 55-day SMA at 1.3002 and advanced along the 20-day SMA to the monthly R1 at 1.3043. The closest resistance is the 200-day SMA at 1.3058, but trading signals might be misleading, since the pair fluctuates in the same range for few recent weeks.

SWFX market participants are indifferent for such low volatility movements, as distribution of opened positions did not change, indicating a fragile advantage of bears (51%). Pending orders segment is opposite to the spot market, since 52% of orders are buy.