EUR/USD moves towards 200-day SMA

Last week EUR/USD broke through a major up-trend support, Aug high and the 100-day SMA, meaning the currency pair is now on a long-term bearish path. The next important area it is likely to encounter is the monthly S2 that is reinforced by the 200-day SMA, even though the technical indicators are not unanimous in the provided signals.

SWFX traders' sentiment towards EUR/USD is neutral at the moment, being that there is no significant difference between the amounts of open long and short positions—they take up 52% and 48% of the market respectively. Among the orders, 48% are to buy and 52% are to sell the Euro.