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- Credit Suisse Group AG. (based on Bloomberg)
Pair's Outlook
The Euro continued to depreciate for the fourth consecutive day versus the Yen on Tuesday, sliding closer to the weekly S1 level at 138.96. Currently, the pair has entered an oversold condition. In addition, the 200– day SMA stais flat since the end of December 2015, but the 55– and 100– day SMA's are moving to the north.However, In case of a break below the S1 level, a slight consolidation should appear later.
Traders' Sentiment
About half of the opened positions are set to be long as well as the 50– pip long pending orders. Meanwhile, the 100– pip orders that are set to be long are placed in a majority and about 67% of traders expect the pair to appreciate.
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