EUR/USD breaches July high

Pair continues to demonstrate willingness to inch up higher. It has already reached July high at 1.3206 and at the moment is trading just slightly below it. The Stochastic indicator in the short term suggests that we could expect some sort of bearish correction, but overall trend should remain bullish. Dips and sell offs should find support at 1.312; rallies should be capped by the 1.329.

 

Market participants are becoming more bearish on the pair. There are 2% more bears in the market than yesterday, 56% overall. Share of pending "buy" orders decreased by 4% and is at 52% gauge today.