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- JPMorgan Asset Management (based on Reuters)
Pair's Outlook
After the Fed decided to keep interest rates on hold, EUR/USD skyrocketed up to the 1.14 level where it consolidated by the end of yesterday. Meanwhile, the pair was mainly stopped from rising further by the Jun high at 1.1437. With Friday estimated to be tranquil in terms of volatility, our outlook is quite neutral with respect to the pair. This view will be unchanged as long as the pair keeps trading below Jun/May highs' area of 1.1447/66. A risk of correction is therefore remaining in place for the time being.
Traders' Sentiment
EUR/USD's sentiment is flat for a fourth consecutive day as the share of bulls amounts to 47%. On the other hand, the portion of long pending orders in 100-pip range from the spot is 57% at the moment.
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