EUR/USD stays below 1.2587/1.2619

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Assuming the ECB does indeed provide a strong move on Spain's yields, then the U.S. dollar would sell a bit into the euro, so the $1.2550 level is really looking like the key battleground for the euro dollar right now"
- Global Hunter Securities (based on MarketWatch)

Pair's Outlook
Despite a good attempt of bulls to push EUR/USD higher, a resistance area at 1.2587/1.2619 did not allow it to succeed at gaining even more ground, forcing the pair to retreat below 1.2543/58. The next supports the price is likely to encounter are located at 1.2507/49 and 1.2386, but these levels are not viewed as capable of halting bearish momentum that is expected to develop.

Traders' Sentiment
Bullish towards EUR/USD traders' sentiment did not last for long, turning back to being bearish after only one day. Presently 46% of market participants hold long positions and 54% of them hold short ones on the pair. As for the orders, 51% of them are to buy the Euro and 49% are to sell it against the greenback.

© Dukascopy Bank SA
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