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"It's still our view that by September the Fed will have enough evidence to raise rates at that month's meeting."
- CIBC World Markets (based on Market Watch)
Pair's Outlook
Despite fears surrounding Greek bailout talks, EUR/USD climbed noticeably Wednesday, by crossing the nearest resistance represented by the 100-day SMA, currently at 1.1029. The next supply at 1.1114 (weekly PP) has been approached in the morning on Thursday. The short-term outlook implies testing of this mark; however, gains are unlikely to extend in the long run. Moreover, both daily and monthly technical indicators are now sending signals to sell the Euro against the US Dollar.
Traders' Sentiment
The share of SWFX long open trades dropped by four percentage points to 47% in the past 24 hours, therefore returning back below the 50% threshold in the morning on Thursday.
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