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It should be mentioned that only a minority of participants in the week's quiz expect the currency pair to rebound. According to Jignesh, "In the past week the EUR/USD was seen mostly sideways without much of a catalyst to push it lower. This week will likely play out the same as there is minimal US Data to drive the pair lower." However, csan86 contradicts and supports bearish outlook: "This week was a consolidation week. Friday showed me the Dollar is still very powerful - weak US economic data may result to the Dollar strength - and there is a very high possibility for bearish continuation. By the way, the 1.0700 support level is strong enough to stop the actual medium-term bearish trend."
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