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- U.S. Bank Wealth Management (based on Bloomberg)
Pair's Outlook
EUR/USD climbed to its weekly high on Thursday, by reaching the 1.10 mark, which is reinforced by 100 and 20-day simple moving averages. Moreover, the pair violated the weekly PP on its way to the north. Bulls got into long positions after a successful bounce off the May low at 1.0818, which currently acts as the most crucial support. Meanwhile, unless the 100-day SMA stays intact, the outlook is going to be unchanged and will suggest further losses for the Euro in the short-term.
Traders' Sentiment
Sentiment among SWFX market towards EUR/USD deteriorated on Friday, as the share of bullish open positions fell from 47% to 45% in the past 24 hours.
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