EUR/USD is suspended by 1.2850

The major currency pair demonstrated a fragile bullish impetus in recent week, but the price quickly found the resistance at 1.2850, which has kept the pair at the same level for four days in a row. According to a trading pattern theory, this is called ascending triangle and most probably EUR/USD will breach the level and continue to advance soon enough. The next resistance is located at 1.2897, where the monthly PP intersects the 20-day SMA.

SWFX market participants keep rather the same numbers as yesterday, while the price remains in a flat zone. Today there are 47% of long and 53% of short positions. Waiting orders segment is marginally bullish, as 52% of orders are ready to buy the Euro.