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"Even if the market does reverse, we expect gains to remain limited in the current environment."
-TD Securities (The Wall Street Journal)
Pair's Outlook
Pair demonstrated mild gains today after forming a Double top pattern on 1H chart. However, pairs downside risk remains, strongly limiting its upside potential. It is likely pair will continue to follow path paved by Bollinger band and downtrend support.
Traders' Sentiment
Bullish sentiment on the pair strengthened since yesterday and currently 75% of traders hold long positions on the pair. Share of pending buy orders increased by additional 1% since yesterday and currently 55% of all posted orders are buy orders.
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