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- Rabobank International (based on Bloomberg)
Pair's Outlook
This week the Euro has rebounded from the major level at 138 that was reached at the end of the previous week. Yesterday we saw the common currency falling dramatically as it touched the weekly PP at 138.73; although, it managed to bounce back to trade just below the major level at 140. It does not seem the monthly PP is very reliable support level as it has been breached multiple time during the past days; therefore, drop towards the major level at 139 is possible. It should be much harder to break the 140 level.
Traders' Sentiment
At the moment of writing 61% of the SWFX market participants are expecting the single European currency to lose value. In the meantime, the share of sell orders grew from 53% up to 55%.
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