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– Al Brooks, full-time trader for 28 years, (based on investing.com)
Pair's Outlook
The common European currency had slightly retreated from the day's trading session's opening price against the US Dollar on Thursday morning. However, the currency exchange rate faces no resistance up to the level of 1.1326, where the first weekly resistance is located at. Moreover, the weekly R1 is part of a cluster made up also from the monthly R1 at 1.1334 and the upper Bollinger band. Due to that and the combination of other technical factors the rate is set to end today's session higher.
Traders' Sentiment
SWFX trader sentiment remains unchanged at 64% long on Thursday morning. In addition, pending commands remain also unchanged at 53% to sell.
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