EUR/USD stays at 1.3790/65

EUR/USD has stalled after a breach of the resistance at 1.3790/65, but is nonetheless capable of adding to the recent gains. The currency pair is likely to rise around 90 pips, then it will encounter the major down-trend that is expected to negate the current bullish momentum and turn the price around, sending it en route to the long-term target at 1.3 and possibly even lower.

At the moment the U.S. Dollar is the second most preferred G10 currency in the SWFX marketplace after the Australian Dollar. In its crosses the greenback is bought in 66% of all cases. In EUR/USD, however, this percentage is slightly below the average, namely at 63%.