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- Sumitomo Mitsui Banking Corp (based on Bloomberg)
Pair's Outlook
EUR/USD pair has strongly bounced from the uptrend line and weekly PP at 1.2925 and surged till 1.3115 support zone. Currently price is fluctuating in 1.3110/1.3090 zone, where the upper Bollinger band line, weekly R2 lie and the previous high's support zone is placed. Also, RSI has value of 63.7 and comes very close to an oversold zone; however, weekly time frame still has power to push price higher.
Traders' Sentiment
SWFX market sentiments on EUR/USD continue to fluctuate around the balanced level, as 43.5% traders have a long position and 56.5% have a short position. Pending orders' segment shows very similar figures, as 53.8% orders are placed for a long position and 46.2% for a short.
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