EUR/USD continues to recover

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It is crucial ... that there is political stability to push forward programmes and this goes for Portugal." 
- Dutch Finance Minister (based on Business Standard)

Pair's Outlook

Pair continues to recover after bouncing from 2013 may low at 1.279. At the moment it is aiming at weekly PP at 1.289. Pair is likely to continue this corrective move, but, as technical indicators suggest, it shouldn't advance far. Short term rallies should be capped by the 1.299. After this correction we could once again focus on the 2013 low at 1.279.   
 

Traders' Sentiment

It seems that bears are putting pressure on other market participants. Currently 51% (-2% since yesterday) of all open positions belong to the bulls. Share of pending orders posted by the bears increased by 8% and at the moment is at 60% gauge.

© Dukascopy Bank SA

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