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- Bank of America (based on Bloomberg)
Pair's Outlook
EUR/USD remained stable in course of the trading session on Wednesday. As expected, the pair continued to be capped by a strong support zone at 1.0760 (2003 low and weekly S1) and is currently hovering above it. At the same time, the downward risk remains in place, taking into consideration bearish medium and long-term technical indicators. If short traders push the Euro below weekly S1, then the probability of a decline down to weekly S2 at 1.0617 will increase significantly.
Traders' Sentiment
Bullish opened positions at the SWFX market are accounting for 46% this morning as they returned back to the same bullish-bearish distribution as seen on March 31.
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