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-Barclays (based on CNN)
Pair's Outlook
Pair continues to depreciate after unsuccessfully trying to breach weekly pivot (R1) at 104.014 yesterday. Although Stochastic indicator gives sell signal suggesting further depreciation of the pair, traders' sentiment suggests pair will face significant resistance on it's way down and further augmentation of the pair is much more likely.
Traders' Sentiment
Although EUR is bough less than sold (46% and 54% of cases respectively) against his counterparts, bulls continue to hold slim majority in the market over the pair as only 28% of traders buy JPY. However, it is likely bulls will gain ground significantly as 82% of pending orders are buy orders on the pair.
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