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- RBC Capital (based on Bloomberg)
Pair's Outlook
EUR/USD pair continued trading in the bearish environment on Monday, as it declined below the weekly S1 and set a new minimum of the year 2014 at 1.2123. Despite that, the mentioned support line held bears from going further to the south. Moreover, the new 2014 low is reinforced by monthly S3/weekly S2 from the downside and is unlikely to give up easily. We expect the pair to close this year around 1.2130, while during first days of 2015 it is going to test the 1.21 major level.
Traders' Sentiment
Long opened positions to buy the single European currency versus the American dollar went up further during last 24 hours, as they rose one percentage point 56%, the highest level in four weeks.
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