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"After last year, one should consider that the likely outcome for Europe in the next decade is 1 percent annual growth."
- Ontario Teachers' Pension Plan (based on FOX Business)
Pair's Outlook
For the past 5 days pair has been trading around 1.3325 where we can find this weeks pivot point. For the past three days pair has been trying to step-up, but monthly R1 seems to be the initial point in needs to breach if it wants to advance any further. However, pair is gaining some bearish direction and taking in mind that technical indicators are rather neutral it seems that pair will be mainly traded on sentiment which is strongly bearish at the moment making 1.324 the area where we can expect a lot of movement.
Traders' Sentiment
Market sentiment ahs not changed a bit since yesterday—traders remain bearish, since 67% of positions are short and only 33% are long. Pending orders remained perfectly distributed between long and short traders.
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