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- Western Business Solutions (based on MarketWatch)
Pair's Outlook
Yesterday, the EUR/USD currency pair was mostly unchanged, as it continued to hover above the major support level at 1.1940, represented by monthly and weekly S1. It seems that this demand zone is strong enough to stop bears from pushing the pair down for some period of time. If the pair gets additional bullish impetus from here, it may advance up to 2012 low at 1.2040. Technical indicators, however, are giving aggregate neutral signals at the moment.
Traders' Sentiment
Long opened positions to buy the Euro versus the Buck were completely unchanged for a third day in a row, as bulls are still remaining in the majority with 55% of all trades. Long pending orders in 100-pip range from the spot dropped back to 29%.
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