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- The European Finance Chiefs (based on Bloomberg)
Pair's Outlook
EUR/USD continues to appreciate and moves towards the upper part of the gap. In order to close it, the price has to overcome an intersection point of the 200-day SMA and the weekly PP at 1.2962. If the major currency pair settles above this level successfully, the 20-day and the weekly R1 located in 1.3022/36 area will maintain the second serious resistance for a subsequent price's upturn.
Traders' Sentiment
The Euro bulls stepped in the lead, as a bullish market share expanded to 52%. Mostly traders bet on a high probability that the price will close the gap soon. However, pending orders segment remains gently bearish, since 55% of orders are waiting to sell the Euro.
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