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- Capital Markets Trading (based on Reuters)
Pair's Outlook
Since the pair declined below the major level at 1.09 and touched another major at 1.08 last week it has failed to reverse this retreat and to appreciate above 1.09. Even though the greenback is struggling to break this previously mentioned resistance level we expect it to happen. At the same time it is possible that this struggle will wake up the pair's bears, then the buck could slip towards the weekly S1 at 1.0813.
Traders' Sentiment
Although there are relatively less people than on Friday considering that the greenback is going to appreciate they are still in majority with 69%. In the meantime, the share of sell orders grew significantly from 36% up to 65%.
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