EUR/USD begins week with correction

The major currency pair accomplishes a correction from the very first day of a week, as the price bounced from the Bollinger band at 1.2959 and already increased 100 pips. Today, EUR/USD appreciates through the 55-day SMA at 1.3001 and it is very likely that the pair will maintain its sentiments further and reach at least the monthly and weekly pivot points at 1.3038 or even an interception point of the 200-day and 20-day SMAs at 1.3059/70.

Bulls have a small advantage over bears, since the buy side holds 53% of opened positions in the market. Pending orders segment is oriented for depreciation, since 54% of waiting orders are ready to sell the Euro versus the U.S. Dollar.