EUR/USD stopped by 1.3758

Although for now the major down-trend resistance line appears to be safe, EUR/USD continues to attack 1.3758. If this supply area gives in, there will be a good possibility for the outlook on the currency pair to change from negative to positive. In the meantime, however, the risks are greatly skewed to the downside, as the Euro is widely expected to fall down to 1.32 before April.

For the most part market participants remain strongly convinced that the single European currency will not manage to outperform the U.S. Dollar. Accordingly, a majority of the open positions are short, namely 66%. Concerning the orders, the share of sell ones plunged from 68% to 53%.