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- Nordea (based on CNBC)
Pair's Outlook
For the time being this week appears to be strongly positive for the Euro, since the price has already advanced 180 pips. However, today's performance is not as promising, even though daily technical indicators have become mostly bullish. Nevertheless, the likelihood of the rally being eventually extended above the May high is considered to be higher than a chance of a long-term reversal.
Traders' Sentiment
The latest shifts in traders' attitudes towards the currencies have mainly concerned the Japanese Yen. This was again proven to be true during the last 24 hours, since the popularity of the Asian currency among SWFX marketplace participants grew substantially. The share of long positions in all of its crosses now amounts to 45% (40% yesterday). Surprisingly, the change did not anyhow affect the sentiment to EUR/JPY (46% bulls/54% bears).
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