EUR/USD stays beneath monthly PP

Although the monthly pivot point has been recently breached, the bearish tendency did not gain traction and EUR/USD returned to 1.3815. If this resistance is overcome, we will be looking at the down-trend line at 1.39 as the next most likely target. However, if the supply proves to be sufficient to prevent further gains, it is the 100-day SMA and the rising trend-line near 1.37 that will be expected to be tested in the coming weeks.

Expectations of the market with respect to the Euro remain unchanged—36% of them are bullish and 64% are bearish. Concerning the orders, the share of the sell ones bounced back and now amounts to 60%.