EUR/USD crawls higher

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Spain said a bailout demand was not imminent and the market keeps it calm. The open question is whether the market will take profit when they do. For now, the market continues to run ahead"
- Societe Generale (based on CNBC)

Pair's Outlook

Even though at a considerably slower pace, but EUR/USD still maintains its upward course with the initial goal at 1.2960. In the longer-term perspective, the pair is inclined to aim for 1.3134/51 prior to an attempt to advance up to 1.3400. At the same time dips are to be contained by 1.2826/1.2786, which is a key support area that ensures bullish outlook.

Traders' Sentiment
The share of long positions on EUR/USD has slightly increased, up to 44%, but did not introduce a notable change in the overall sentiment towards the pair, which remains moderately bearish. As for the orders, 55% of them are to acquire the Euro and 45% are to sell it against the U.S. Dollar.

© Dukascopy Bank SA

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