EUR/USD fails to close below 200-day SMA

EUR/USD tried to depreciate on Friday as bearish target levels were represented by recent lows around 1.11. However, negative momentum was exhausted by the end of the trading session and the pair bounced back to close above the 200-day SMA at 1.1192. Additional attempts to consolidate below 61.8% Fibonacci retracement of the Jul-Aug uptrend and 100/55-day SMAs are likely to take place soon. A failure here may trigger extra losses down to 1.1087 (Sep 3 low) and 1.1017 (Aug 18-19 lows) afterwards.

The share of bulls on the market decreased from 54% to 53% over the weekend. In the meantime, the portion of long pending orders in 100-pip range from the spot remains in red at just 39% (36% on Friday).