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- Barry Eichengreen, the University of California (based on Reuters)
Pair's Outlook
The Europe's currency tested the monthly R2 at 139.19 again, after breaching the major level at 139. Apparently, the pair remains bullish as it repeatedly tries to surpass the previously mentioned levels. However, slightly higher there are also July high and 200-day SMA at 139.30/31, that could also encumber further appreciation. Nonetheless, if the pair closes above the 139 mark then most likely the 200-day SMA will be challenged.
Traders' Sentiment
The traders' sentiment remains unchanged at 47%, as the trading range for the pair has been more or less the same during this week. Concerning the orders placed 100 pips from the spot, there are now considerably more commands to sell—60%.
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