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- Boris Schlossberg, BK Asset Management (based on Reuters)
Pair's Outlook
Pair has rebounded from 99.00 and is likely to depreciate further as Stochastic indicator is giving sell signal on 1H horizon. However, pair should not have enough momentum to breach cluster of support levels around 98.00-97.5.
Traders' Sentiment
Traders' sentiment now is in perfect equilibrium after 7% of long traders closed their positions since yesterday. However, distribution of pending orders shows we still might see an increase in bullish sentiment as 58% of traders have posted buy orders in the range of 100 pips from current market price.
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