The EURUSD was indecisive yesterday. The bias is neutral in nearest term. As long as stays above 1.3150/00 price is still in a major bullish phase but found a strong resistance at the trend line and 1.3330/50 which needs to be clearly broken to the upside to continue the bullish scenario. Immediate resistance is seen around 1.3271 (current high). A clear break above that area could trigger further bullish pressure testing 1.3330/50. On the downside, a clear break below 1.3150/00 could be an early signal of a bearish reversal scenario.
EURUSD - The ratio of long to short positions in the EURUSD is at -3.05 as 25% of traders are long. Yesterday, the ratio was -2.29, 30% of open positions were long. Long positions are 6.9% lower than yesterday and 9.7% below levels seen last week. Short positions are 23.8% higher than yesterday and 26.2% above levels seen last week.
