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However, even though the signals are weak, there are a few indicators that are currently pointing north. If the sell-off is not triggered and the price closes above 1.4650, there is likely to be an attempt to attack a dense supply area between 1.4750 and 1.4700, which is implied by the Jun 22 high and monthly R2. In the meantime, most SWFX market participants are holding short Euro positions, namely 62% of them.
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