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In line with the fact that overall market sentiment is slightly bullish, more than 61% of Dukascopy Community members are having positive view on the pair, while consensus forecast stands at 1.134, just slightly below the above-mentioned level. It will be also worth mentioning that last week, in turn, almost 66% of all votes were bearish. "A lot emphasis is put on the latest NFP figures with speculation the Fed may come across more dovish in their monetary policy meeting this week. Yellen has already indicated that too much emphasis should not be placed on a single data point, suggesting the board may not come across nearly as dovish as the markets may expect in regards to the labor markets. However, PCE inflation continues to remain subdued tying the Fed's hands in providing clear forward guidance on normalization" said Jignesh. Nonetheless, vast majority of traders believe the EUR/USD pair will be highly volatile this week.
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