EUR/USD jumps from the 200-day SMA

After a drop to the 200-day SMA at 1.2958, the major currency pair recovered bullish sentiments. However, before appreciating yesterday, the pair slipped to test the lower Bollinger band at 1.2918 and the weekly S1 at 1.2917. Today EUR/USD increases further and is very close to the monthly PP level at 1.3026. The next resistance - 20-day SMA - is at 1.3058, and will form a major support, in case the trend reverses to bullish.

Traders' sentiments are in an equilibrium, as both the bulls and bears possess the same weight of positions. Pending orders market is slightly bearish, as 52% of orders are sell.