The cross edged down, as was anticipated. However, the loss was minor, only 20 pips, and the single currency failed to reach the initial support at 129.84. Through Wednesday the Euro is likely to keep climbing, although the technical indicators are giving mixed signals. Moreover, today's strong fundamentals are supporting a bullish outcome for the currency. The closest resistance level rests between the monthly S1 and weekly R1, around 131.95.
Liquidity traders' confidence keeps deteriorating: 55% (previously 56%) of all positions are now long. At the same time, the portion of buy orders is once again in a majority, as they are taking up 55% of the market.