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- Chancellor Angela Merkel (based on The Telegraph)
Pair's Outlook
Pair remains somewhat depressed under the June high/Bollinger band. Even though the technical indicators give bullish outlook on aggregate quite a few of them give neutral outlook individually. It suggests that the pair should maintain bearish, but mild, stance for the time being. Solid close above the 6 month high would uplift most of this pressure. Dips should find support with the 55 day SMA.
Traders' Sentiment
Market sentiment remains largely unchanged with bears having tight grip on the market. They account for 64% (+1% since yesterday) of market participants; 57% (+2% since yesterday) of pending orders are in their favour as well.
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