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- Cambridge Mercantile Group (based on the Wall Street Journal)
Pair's Outlook
The pair slightly appreciates from the weekly pivot point at 1.0310, but there remains a long way till a last week's high at 1.0392. A future direction mostly depends on international investment sentiments and on how traders decide to trade the U.S. Dollar. Bullish momentum could be possibly stopped around a 1.0403 level, where the weekly R1 intersects the Bollinger band and a bearish impulse would be slowed at 1.0227, where the weekly S1 is located.
Traders' Sentiment
Bulls have three quarters of the opened positions in SWFX market, indicating that a continuation of bullish momentum is expected. Waiting orders segment is bullish with 63% of buy orders.
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