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- Jamie Saettele, CMT (based on Daily FX)
Pair's Outlook
The common European currency had remained rather unchanged against the US Dollar on Wednesday morning. However, after previously falling during Tuesday's trading session the currency exchange rate was below the significant 1.10 mark, as the rate failed to break through the resistance put up by the second monthly support level at 1.1026 during Tuesday's trading. At the moment, the outlook seems like the rate is set to fall to at least the 1.0929 level, where the closes support is located at.
Traders' Sentiment
SWFX traders remain slightly bullish on the pair, as 54% of open positions are long. In the meantime, pending commands remain bearish, as 57% of set up orders are to sell.
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