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At the moment of writing, we could see bulls trying to refresh the recent high. Traders, however, does not believe the pair will continue its appreciation, as only 37.5% of votes are bullish, while consensus forecast stands at 1.12. The overall market sentiment is bearish (62.5%), while traders rokasltu supports this forecast and believes that believes "The EUR/USD took upward direction after FOMC statement but faced resistance above 1.13. In my opinion, as monetary policy is quite clear at the moment, the EUR/USD movements might be limited for a while. I expect rate to go downward a little during this week."
The pair has a potential to be highly volatile in the second part of the week, especially on Thursday, when the ECB will announce Targeted LTRO, while American statistical agencies will unveil the initial jobless claims and durable goods orders. On Friday, in turn, the US will publish GDP for the fourth quarter as well as personal consumption expenditures prices.
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