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- Amos Hochstein at US State Department (based on Bloomberg)
Pair's Outlook
Monday sessions showed mild trading moves of only about 50 pips of volatility. The USD weakened versus its counterpart and slid lower towards the weekly PP at 0.819 during the day. On the top, the pair touched the Bollinger band level at 0.824. The daily chart shows 55– 100– and 200– day SMA's pointing to the south.
Traders' Sentiment
Traders' sentiment is continues to be on a bullish side and 71% of opened positions are long. The 50– pip range pending orders are set to buy in 61% of the case, while the 100– pip orders are bullish in 57%.
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