EUR/USD up 480 pips since Wednesday

EUR/USD climbed from 1.1020 to 1.15 in just slightly more than three trading days, reflecting Fed dovishness and dropping equity markets worldwide. After violating both Jun and May high on Monday morning, the next bullish target is represented by the Feb high at 1.1534 right now. However, gains are likely to be allowed until 2005 low at 1.1637 in the medium term. Despite that, daily Stochastic indicator suggests the Euro is overbought at the moment, and we may observe a correction at some point of time. 

 

The share of bulls decreased from 49% to 48% over the weekend. Alongside, pending orders in 100-pip range from the spot declined five percentage points, but remained positive at 51%.