EUR/USD on a highway to 1.35

The U.S. Dollar continues to strengthen, and this tendency is unlikely to be stopped by any of the nearby supports—the weekly pivot point has already been broken. The demand at 1.35 and below, on the other hand, has a higher chance of succeeding, also considering the bullishness of the monthly indicators. Nevertheless, the long-term outlook is still deemed to be bearish, since the key resistances remain intact and it is not expected to be changed any time soon.

As the Euro gets cheaper, there are less and less incentives for the traders to hold onto it. As a result, the share of the short positions has declined from 56% down to 52%. Meanwhile, the percentage of buy orders surged from 40% to 59%.