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    EUR/USD gains bullish momentum

    © Dukascopy Bank SA
    "We could envision an end to the Greek crisis starting from June. You'll see. If there's an agreement, capital sill start flowing very quickly." 
    - Yanis Varoufakis, Greek Finance Minister (based on MarketWatch)

    Pair's Outlook
    On Tuesday the EUR/USD cross climbed notably during trading as it gained more than 100 pips over the day. Both US fundamental factors and optimistic political news from Greece pushed the Euro upwards above the weekly R1 to close at 1.1480. The pair, however, was capped by the 23.6% Fibo / monthly PP from above. On Wednesday, a correction can take place with a potential daily target located around 1.14. 

    Traders' Sentiment
    Distribution between long and short positions deteriorated further, as share of the former dropped to 45% in the morning of today. At the same time, commands to acquire the Euro in 100-pip range rebounded considerably during last 24 hours to reach 52%.

    © Dukascopy Bank SA

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