EUR/USD consolidates near monthly S2

EUR/USD stayed close to 1.29, missing the opportunity to make a correction up to 1.30, where it would have met the monthly S1 and weekly PP. Eventually the bears should push the Euro beneath the monthly S2, which in turn will result in the price falling down to 1.2750, the 2013 low. If neither this support nor the one at 1.2650 (2012 Q4 low) stop the decline, there will be a good chance of the 2012 low at 1.2050 being tested in the long-term perspective.

While the share of long positions has not moved an inch since the previous report (it is still at 59%), there is at least some volatility in the percentage of sell orders, especially 50 pips from the spot—from 59 to 67%.