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- Western Union Business Solutions (based on Reuters)
Pair's Outlook
It seems that the pairs failure at weekly PP/20-day SMA yesterday has been concluded today when it hit weekly S2/monthly S1/October low at 131.28/130.90. We expect this to be a short term occurrence and that overall trend, at least in the short term, will remain bearish. In such case it should drift to 200-day SMA. In case of an unexpected recovery the pair should advance above 133.75 in order to uplift most of this downside pressure.
Traders' Sentiment
Bears increased the share of controlled positions by one percent and at the moment market is perfectly evenly divided between the long and the short traders. Share of bullish pending orders decreased by 8% since yesterday and at the moment is at 54% gauge.
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