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- Forex.com (based on MarketWatch)
Pair's Outlook
Yesterday's attempt of EUR/USD to decouple from the monthly PP at 1.3815 failed, as the currency pair did not manage to reach the down-trend resistance line at 1.39. Meanwhile, most of the technical indicators on the nearest time-frames are bullish, suggesting it may still try to recover. However, in the long run the Euro is expected to weaken, and the chances of it rising up to the 2011 highs are rather low.
Traders' Sentiment
SWFX traders are again building up short positions on EUR/USD—their share increased from 65% up to 67.5%. Additionally, the percentage of orders set to sell the common currency also went up, from 60% to 65%.
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