EUR/USD bumped into 23.6% Fibo

As expected, the supply at 1.2850 (23.6% Fibo) was sufficient to prevent further appreciation of the Euro. However, even though afterwards EUR/USD dipped down to 1.27, the subsequent buying pressure did not allow the pair to settle beneath the nearest supports. Accordingly, we are waiting for the price to settle under the 2013 low at 1.2740, which would confirm its intentions to move lower, namely down to this year's minimum at 1.25.

The difference between the longs (49%) and shorts (51%) remains negligible, as the market is still undecided with respect to the future of the Euro. As for the pending orders, there is a slight advantage of buy ones (58%) over the sell ones (42%).