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"The Greek approval of austerity measures was not enough to turn the sentiment around for the Euro. There is still uncertainty whether or not Greece will be able to secure the next tranche of aid at the next European Union summit. The yen and the dollar are being bought in a bid for safety"
- Mizuho Corporate Bank Ltd. (based on Bloomberg)Pair's OutlookYesterday in the morning EUR/USD pair was sharply appreciating, but, however, in the second part of a trading day, the price reversed its direction and broke through the previous bottom at 1.2763. Currently, the major currency pair is traded around 1.2760 level, where the 200-day SMA and the weekly S1 level can be found. Also, the price is moving along with the lower Bollinger line and the RSI has a value of 34 in a daily graph, therefore a positive correction is very likely soon.
Traders' SentimentSWFX market participants have distributed their positions almost equally, as 48% traders bet on the further Euro increase, and 52% investors have contra arguments for that. Pending orders market maintains the same idea of the Dollar appreciation, as more traders have a short position (45/55).
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