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- Morgan Stanley (based on MarketWatch)
Pair's Outlook
A strong correction of the Euro to the upside continued back on Tuesday. Bulls managed to push the cross above weekly pivot point at 1.1332 and consolidate above this resistance line, thus closing the trading day at 1.1380. The next supply zone seems already more complicated, with monthly S3 and 23.6% Fibo defending the area around 1.15. Judging from technical indicators, a down-trend may resume as soon as on Wednesday.
Traders' Sentiment
Distribution between long and short opened positions on EUR/USD pair is completely unchanged from yesterday at 49% vs 51%, respectively. At the same time, commands to acquire the Euro surged as many as six percentage points to 37% since yesterday.
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