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– Bloomberg
Pair's Outlook
The European single currency failed to post gains against the Japanese Yen on Thursday, as risk-aversion mood suddenly emerged. However, the upper trend-line was still reached, but the following bearish momentum also caused the lower boundary to be put to the test, which in turn limited the losses. The given cross is now expected to rebound, being that it is supported not only by the channel's lower border, but also the weekly pivot point. A significant rally is doubtful, meaning that the 122.00 major level is unlikely to be retaken today. Meanwhile, technical indicators confirm the possibility of the positive outcome.
Traders' Sentiment
Traders' sentiment remains unchanged, with bulls taking up 54% of the market. At the same time, the share of sell orders slid from 64 to 61%.
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