EUR/USD remains bearish

Last night the major currency pair experienced another bearish correction and now the price is gradually approaching the weekly Pivot Point and 20-day SMA at 1.2866 level, which might bring in some bullish impetus into the market. In case this level is breached, the price may drop another 100 pips and reach the intersection level of weekly S1 and monthly R1 at 1.2766. Generally, indicators' signals are mixed, therefore trader's sentiments might have essential impact on the price direction.

Traders at SWFX market remain pessimistic about the EUR/USD exchange rate perspectives, as 41.8% of traders have long positions and 58.2% of investors hold short positions. Situation in the pending orders segment is quite different, since 56.2% of traders ordered to buy and 43.8% ordered to sell EUR/USD currency pair.