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"The data are in line with the economic situation we are going through. I myself would like to know today how much tax receipts will amount to at the end of the year, but it's too early to say"
- Spain Deputy Budget Minister Marta Fernandez Curras (based on Bloomberg)
Pair's Outlook
EUR/USD pair was testing a 1.3240 level yesterday and ,despite an upside impulse, the price was finally pushed back and closed exactly at the 1.3240 level after Thursday's trading session. These movements indicate that bulls' power weakens and the pair might face a correction soon. Today the price surrenders to bears and slips lower, thus possible support levels are a 1.3121/1.3079 area, which contains the monthly R2, weekly R1 and a down-trend support line.
Traders' Sentiment
Bearish sentiments increase together with the fluctuating currency pair, as the buy side shrunk to 33% and the sell side reached 67%. Pending orders segment provides bullish sentiments, as 60% of orders are buy and 40% are sell.
© Dukascopy Bank SA