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- Deutsche Bank (based on MarketWatch)
Pair's Outlook
EUR/USD cross was little changed because of holidays on Wednesday, when the trading volume was rather low. The pair went up slightly to reach the monthly S2 at 1.2228. But this level kept bullish pressure under control. We do not see the Euro climbing above this level and expect it to decline in the medium-term. The new yearly low under 1.2162, however, is not likely to be set until December 31.
Traders' Sentiment
Long opened positions to acquire the Euro against the Greenback were little changed during last 48 hours, as they decreased to 54% (55% on Wednesday's morning). Additionally, long pending orders in 100-pip range from the spot advanced to 47%.
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