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In the beginning of the current week, the pair was affected by extremely weak German economic sentiment, while in the upcoming days the influence may come from U.S. retail sales data on Wednesday and prelim GDP growth in Germany and France a day later. In general, any downturns of the currency pair should be well capped by the weekly S2 at 1.3290.
It should be mentioned that only a minority of participants in the week's quiz expect the currency pair to trade at such a low level. The median forecast is located around the 1.3370, while the majority of traders predict the EUR/USD pair to trade in the range of 1.33-1.35. Market sentiment gives no clear signals for future movements of the pair, thus the fundamentals will mainly drive the pair in the nearest future. According to AdamFx42, "Slight pullback back up again seems logic after hitting the 1.333 lows last week. Probably the pair will drift around between 1.33 and 1.36 for a couple of months more."
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